Business Services Industry
British grocer Sainsbury sees shares rise for second day in a row.
Knight Ridder/Tribune Business News, September, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Sep. 11--The City was once again on bid alert as shares in ailing grocer J Sainsbury rose sharply for the second successive day amid fairly frenetic trading activity.
Shares in the supermarket group topped the FTSE 100 leaderboard, rising 6p to 283p, as trading volumes hit 115m.
That figure is still short of the 350p "take-out" price touted in the market and reportedly offered to shareholder Brandes by a mystery bidder in exchange for its 8 percent Sainsbury holding.
Argos owner GUS and the secretive property billionaire Reuben brothers have been added to a growing list of potential bidders, which already includes US stores group Target and retail tycoon Philip Green....
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