London / UK. (js) J. Sainsbury PLC confirms it has received a preliminary approach from Delta (Two) Limited, which may or may not lead to an offer being made for Sainsbury´s. The board will make a further announcement, as appropriate, in due course, a press release announces. The talks are the latest episode in months of speculation over the future of Sainsbury´s – third-largest retailer in the United Kingdom.
Delta Two, a vehicle of the Qatari royal family, amassed its stake in Sainsbury´s last month. The share raid sparked speculation over the fund´s intentions. Delta Two is run by Paul Taylor, a former associate of Robert Tchenguiz, the property tycoon who holds five percent of Sainsbury´s shares. Together, Delta Two and Tchenguiz hold a 30 percent stake in Sainsbury´s which, if they teamed up, would trigger an automatic offer for the company.
A disclosure table, giving details of Sainsbury´s in whose «relevant securities» «dealings» should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel´s website. The official Sainsbury´s press release you find at the corporate website.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Cloetta AB: announces Q2-2024 interim report
- Axfood AB: Reports Q2-2024 Financial Results
- Chef Robotics: Launches AI-Powered Food Robot
- Conagra Brands: Reports Fourth Quarter 2024 Results
- Limerston Capital sells Village Bakery to Groupe Menissez
- GrubMarket: Buys Major Foodservice Company in Texas
- Lantmännen acquires Entrack AB
- DPC Dash: Concludes H1-2024 with Sustained Expansion
- Norway: Orkla Food Ingredients acquires FDE
- Fondo Italiano d’Investimento co-invests in Casa della Piada
- Greggs: invests in a new frozen manufacturing and logistics site
- Bundeskartellamt imposes fine against «Fritz!» manufacturer AVM
- Yum China: Celebrates Opening of its 200th KCoffee Store
- Beijing intends to roll out 5’400 food production robots
- K-Citymarket: sees significant sales growth in Finland
- DPC Dash: reaches 900-store milestone in China
- Coffee Holding: Terminates Merger with Delta Corp Holdings
- Perkins Restaurant + Bakery: introduces new brand identity
- Engelmans Bakery: acquires St. Armands Baking Company
- National DCP: Breaks Ground on New Distribution Center