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Article: M&S refuses to rule out Sainsbury bid, raising prospect of auction
- Article from:
- The Scotsman
- Article date:
- March 1, 2007
- Author:
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Copyright informationCopyright 2007 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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MARKS & Spencer last night refused to rule itself out of making a
bid for J Sainsbury, admitting it had been considering a "possible
combination" with the supermarket giant.
M&S said in a statement issued after the stock market closed that
it could still consider an offer, or become involved in a move, if a
recommended offer was made by someone else, raising the prospect of
an auction for Sainsbury.
M&S had been linked by retail analysts in recent days to a
possible takeover challenge for Sainsbury, possibly in partnership
with a Qatari-backed fund, which could scupper private equity houses
CVC, KKR and Blackstone, which have already declared their interest
in a potential 555p-a-share bid ...