(Alliance News) - J Sainsbury PLC could be the next UK grocer to be subject of bid interest from the private equity space, the Sunday Times reported over the weekend.
According to the report, private equity firms were exploring a potential takeover of Sainsbury's with a view to possibly launching offers of more than GBP7 billion, as the bidding war for peer Wm Morrison Supermarkets PLC reignites interest in the UK grocery sector.
The Times reported US firm Apollo Global Management Inc was said to be "running the rule" over the UK's second-largest supermarket chain, according to the newspaper.
The stock was up 7.2% at 315.84 pence, the best performer in the FTSE 100 on Monday morning.
https://www.thetimes.co.uk/article/bidders-train-guns-on-sainsburys-sh8228nst
Last week, Morrisons accepted a raised offer from Clayton, Dubilier & Rice worth GBP7.0 billion as rival suitor Fortress Investment Group LLC assesses its options.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Sainsbury's (SBRY)