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#London Markets: Sainsbury shares jump on report it’ll next attract private-equity bid

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“#London Markets: Sainsbury shares jump on report it’ll next attract private-equity bid”

Shares of U.K. supermarket chain J Sainsbury jumped 9% on Monday, amid reports it will be next in line for a private-equity bid after Wm Morrison Supermarkets.

American buyout giant Apollo is said to be considering a bid for Britain’s second-largest supermarket chain
SBRY,
+8.82%,
according to the Sunday Times, a report that neither the supermarket chain nor Apollo commented upon.

Sainsbury shares are now up 43% this year.

Last week, Clayton, Dubilier & Rice agreed a £7 billion offer for Morrisons
MRW,
+0.07%,
while a consortium led by Fortress Investment Group said it was weighing whether to make a counteroffer. The Sunday Times said Apollo was still considering joining the Fortress consortium to bid for Morrisons.

Steve Goldstein

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