×
6 695
Fashion Jobs
SPORTS DIRECT
Loss Prevention Supervisor
Permanent · LEICESTER
SPORTS DIRECT FITNESS
Assistant General Manager - Everlast Fitness
Permanent · BURY ST EDMUNDS
SPORTS DIRECT FITNESS
General Assistant - Everlast Gyms
Permanent · BURY ST EDMUNDS
SPORTS DIRECT FITNESS
General Manager - Everlast Fitness
Permanent · RUGBY
EVERLAST GYMS
General Manager - Everlast Fitness
Permanent · STOKE-ON-TRENT
AESOP
Retail Consultant | Full-Time | Aesop st James Quarter, Edinburgh, Scotland
Permanent · London
HEAD OFFICE
Merchandise Planner – Food & Grocery Merchandising
Permanent · BRACKNELL
HEAD OFFICE
Digital Product Manager
Permanent · LONDON
NEXT
Delivery Coordinator - Llandudno
Permanent · LLANDUDNO
NEW LOOK
Sales Manager
Permanent · STRETFORD
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · NETHERFIELD
CANADA GOOSE
Security Ambassador- Part Time
Permanent · MANCHESTER
JOHN LEWIS
Loss Prevention Partner
Permanent · DARTFORD
HARRODS
Digital Production Manager
Permanent · LONDON
HARRODS
Senior Mechanical & Electrical Project Manager
Permanent · LONDON
NEXT
Delivery Coordinator - Lincoln Valentine Retail Park
Permanent ·
HARVEY NICHOLS BRISTOL
Security Guard - 40hrs
Permanent · BRISTOL
HARVEY NICHOLS KNIGHTSBRIDGE
Brand Consultant - Dries Van Noten
Permanent · LONDON
FRASERS GROUP
HR Administrator
Permanent · SHIREBROOK
SELFRIDGES
Production Manager- Ftc
Permanent · LONDON
NEXT
Delivery Manager - New Malden
Permanent · NEW MALDEN
NEXT
Stock Coordinator - Walton on Thames
Permanent · WALTON-ON-THAMES
Ads
Published
Aug 24, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Sainsbury's shares surge on takeover speculation

Published
Aug 24, 2021

Sainsbury’s shares dipped slightly on Tuesday after surging in double-digits on Monday due to speculation that a takeover offer could be just around the corner.


Tu Clothing



The Tuesday dip was small, suggesting that investors still think a takeover could happen, especially as supermarket peer Morrisons has recently accepted an offer, while Asda was also taken over earlier this year.

Sainsbury’s is the second largest UK supermarket and also a major player in the fashion sector due to its Tu Clothing offer, as well as being a big vendor of beauty products and general merchandise.

The company, which also owns the Argos chain, has seen feverish speculation around a likely takeover ever since the bidding war around Morrisons erupted. And the speculation continues, despite plenty of analysts saying they think a takeover is unlikely.

The 15% share price rise on Monday came despite some analysts saying the likelihood that a private equity group (in this case Apollo) would launch or succeed in a takeover is pretty low. A Sunday Times report had first mentioned Apollo’s interest at the weekend. 

That interest is said to be purely exploratory at present and given that Apollo had also been interested in Morrisons, it’s no surprise that analysts are sceptical. The fact that Sainsbury’s didn’t feel the need to issue a stock exchange statement on Monday also suggests that there could be a lot of wishful thinking on the part of share buyers at present.

Takeover talk has actually surrounded the company for some time, being notable when the Qatari Investment Authority sold a £300 million stake in the firm this spring to Daniel Kretinsky’s Vesa Equity Investments.

Copyright © 2022 FashionNetwork.com All rights reserved.