Article: M&S refuses to rule out Sainsbury bid, raising prospect of auction

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 ...

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