Shares in J Sainsbury rose by 9p yesterday after renewed hope that the Qatari-backed investment fund interested in the chain is securing the backing of the supermarket's board.
The Telegraph reported that talks yesterday between Sainsbury's chairman Sir Philip Hampton and Paul taylor, who runs the Qataris' Delta Two Investment Fund were positive. The two parties are expected to meet again before the end of the week.
The Qataris hope to secure access to Sainsbury's books and other confidential information before a formal offer is tabled.
Sainsbury shaes closed at 540p yesterday.
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