Sainsbury Bid From Qatar ‘Unlikely,’ Says Bofa Merrill Lynch

Qatar’s sovereign wealth fund is “unlilkely” to bid for J Sainsbury Plc, BofA Merrill Lynch Global Research said.

Qatar “may be more flush with cash having crystallized 1.4 billion pounds of its Barclays” stake, analysts wrote in a report. “But we see speculation that it may bid for the rest of Sainsbury as non-credible.”

BofA Merrill Lynch reiterated its 335 pence price estimate on Sainsbury.END