Mega-rich Qatari investors have been creating quite a stir with their aggressive stakebuilding of mining giant Xstrata during the Glencore International bid saga, but their activity in that controversial situation could soon pale into insignificance.
Growing speculation suggests that the Arabs want to clear up the longstanding major 26 per cent shareholding in J Sainsbury once and for all and have appointed a team of advisors to do so.
Shares of the UK’s third biggest supermarket rose a further 2.9p to 347.8p to close within a fag paper of the 52-week peak amid red hot gossip that the Qataris, along with financial adviser Lazards, bankers Citibank and lawyer Allen & Overy, are currently talking turkey with Sainsbury family interests, who sit on around 8 per cent of the equity. If successful, the talks could lead to an agreed £9billion-plus or £5 a share cash offer.
No comments:
Post a Comment