# Shares in UK chain Sainsbury’s jump 11% on report of buyout interest
Published: 2021-08-23
Category: Business
Category URL: https://technologydispatch.com/category/business/
Meta Title: Sainsbury's shares surge 11% as private equity firms eye $9.6 billion bid
Meta Description: Sainsbury's stock soars after reports of private equity firms exploring bids worth over 7 billion pounds. Get the latest updates on the potential takeover.
URL: https://technologydispatch.com/shares-in-uk-chain-sainsburys-jump-11-on-report-of-buyout-interest/

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(Reuters) – Shares in Sainsbury’s jumped 11% to a three-year high on Monday after a report over the weekend said private equity firms could launch bids worth more than 7 billion pounds ($9.6 billion) for Britain’s second-largest supermarket.

Private equity firms, including New York-based Apollo Global Management, were circling Sainsbury’s, the Sunday Times newspaper reported https://www.thetimes.co.uk/article/bidders-train-guns-on-sainsburys-sh8228nst.

Apollo’s interest in Sainsbury’s was exploratory and the private equity firm remained in talks to join the Fortress-led consortium bidding for Britain’s fourth-largest grocer Morrisons, the report said.

Sainsbury’s did not immediately respond to a request for comment.

($1 = 0.7327 pounds)

(Reporting by Aditi Sebastian and Yadarisa Shabong in Bengaluru; Editing by Edmund Blair)


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