Shares in J Sainsbury closed at a seven-year high today, on reports that the supermarket group could be the next big listed UK company to be taken out by a private equity player.
Apollo is said to be looking at the company, according to weekend reports in The Sunday Times. The supermarket group’s stock rose by 15% to 340p during trading, the biggest increase of any FTSE 100 constituent, valuing the company at close to £8bn.
Rival supermarket Morrisons, itself the subject of two takeover offers, rose further, ending the day up 0.4% at 292.1p.
The day’s biggest real estate stock fall came for flexible office provider Workspace, down by 4.9% to 923.5p.
The FTSE 100 was up 0.3% at 7,109, with the FTSE 250 down 0.04% at 23,740p.
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