Marks & Spencer has ruled out launching a bid for Britain's third largest supermarket chain Sainsbury at this stage. M&S, Britain's largest clothing retailer, said in response to recent speculation that it 'has been considering its position in relation to a possible combination with Sainsbury', but it has decided to hold off for now.
Marks & Spencer has ruled out launching a bid for Britain's third largest supermarket chain Sainsbury at this stage. M&S, Britain's largest clothing retailer, said in response to recent speculation that it 'has been considering its position in relation to a possible combination with Sainsbury', but it has decided to hold off for now.
However, M&S has reserved its right to reconsider its position if another bidder emerges for Sainsbury or if Sainsbury recommended a bid from M&S. Otherwise, M&S is not allowed under takeover rules to launch a bid for the six months following a statement, M&S said.
The statement by M&S followed comments by ceo Stuart Rose who described a possible link between the two groups as interesting.
