Companies
Sainsbury up on market talk of bid interest
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Posted 12 September 2008 @ 04:36 pm GMT
Shares in Sainsbury rose as much as 3.5 percent on Friday as traders cited market of bid interest in the supermarket group.
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bid sainsbury shares takeover talk
Global Radio increases bid for GCapSainsbury declined to comment.
"I am hearing rumour of Sainsbury bid this weekend," one London-based trader said, adding there was talk of a 510 to 525 pence per share bid.
Traders gave no further details.
Sainsbury shares were up 3.1 percent to 356 pence by 3:34 p.m.
More than 12 million Sainsbury shares changed hand by 3:34 p.m., compared with a full-day average of 8.9 million in the past 30 days.
(Additional reporting by Mark Potter)
(Reporting by Dominic Lau and Blaise Robinson)
Copyright 2008 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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