Private equity firms CVC, Kohlberg Kravis Roberts and Blackstone have admitted they are in the preliminary stages of assessing a possible offer for the UK's third-biggest supermarket group Sainsbury's. Market rumours that Sainsbury's was a takeover target boosted the company's shares by 18% to 526.5p on Friday, valuing the supermarket chain at about £9.7bn.
Private equity firms CVC, Kohlberg Kravis Roberts and Blackstone have admitted they are in the preliminary stages of assessing a possible offer for the UK's third-biggest supermarket group Sainsbury's. Market rumours that Sainsbury's was a takeover target boosted the company's shares by 18% to 526.5p on Friday, valuing the supermarket chain at about £9.7bn.
In a joint statement, the US-based syndicate said nothing has been decided yet. 'No decision has been made regarding the relative merits of an offer and as a consequence there can be no assurance that any offer for Sainsbury will be forthcoming,' the private equity investors stated.
The takeover talk was heightened on Thursday when the UK retailer unveiled that the Sainsbury family trust had sold 40 million shares, cutting its stake to 13.9%.
