TALK of another takeover bid for Sainsbury’s sent shares in the supermarket to a two-month high.
Shares rose by 5% or 16.1p to 344.2p yesterday amid speculation that Qatar Holding – the investment arm of the oil-rich Qatar Investment Authority, which holds a 26% stake – was preparing a full-blown takeover bid.
The UK’s third biggest grocer faced two bid attempts in 2007 – first from private equity and then from Qatari investment vehicle Delta Two, which transferred its stake to Qatar Holding in 2008.
Qatar Holding’s recent moves include a £1.5bn acquisition of London department store Harrods. Market talk suggested the company is now turning its attention again to Sainsbury’s and its £9.8bn property portfolio.
