Shares in Sainsbury’s surged again this morning amid ongoing speculation about a potential takeover and hopes of a bidding war.
A £20 billion investment fund named Delta Two, backed by the Qatar government, has confirmed that it is “interested” in the retailer, The Times has reported.
But Sainbury’s is said to be considering asking the Takeover Panel for “put up or shut up” order to potential bidders.
Private equity houses CVC Capital, Kohlberg Kravis Roberts and Blacksone told the stock exchange of their interest in bidding for Sainsbury’s just over a fortnight ago in a deal that could value the firm at £11bn.
The speculation that Sainsbury’s could become a potential takeover target caused shares to rise to their highest point since 1999 after the trio confirmed they were considering a potential offer.
A number of interested parties including Texas Pacific Group, Cinven, Apax and Marks & Spencer’s were reported within days.
But Sainsbury’s shares dropped on Friday after Cinven reportedly decided not to bid for the group.
News of the latest offers saw shares rise nearly two per cent to 513.37p.
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