# Shares in UK chain Sainsbury’s jump 11% on report of buyout interest
Published: 2021-08-23
Category: Business
Category URL: https://entrepreneurtribune.com/category/business/
Meta Title: Sainsbury's shares soar on potential $9.6 billion bids
Meta Description: Sainsbury's stock hits a 3-year high as private equity firms eye bid worth over $7 billion, including interest from Apollo Global Management.
URL: https://entrepreneurtribune.com/shares-in-uk-chain-sainsburys-jump-11-on-report-of-buyout-interest/

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qsqu1j002vwirgtlcwq54p/images/2021-08-23t082029z2lynxmpeh7m0bartroptp4sainsbury-stock-1737050578789-compressed.jpg)

(Reuters) – Shares in Sainsbury’s jumped 11% to a three-year high on Monday after a report over the weekend said private equity [firms](https://entrepreneurtribune.com/covid-19-makes-the-case-for-technology-and-automation-for-business-development-in-professional-services/) could launch bids worth more than 7 billion pounds ($9.6 billion) for Britain’s second-largest supermarket.

Private equity firms, including New York-based Apollo Global Management, were circling Sainsbury’s, the Sunday Times newspaper reported https://www.thetimes.co.uk/article/bidders-train-guns-on-sainsburys-sh8228nst.

Apollo’s interest in Sainsbury’s was exploratory and the [private](https://entrepreneurtribune.com/barclays-private-bank-makes-senior-appointments-in-singapore-statement/) equity firm remained in talks to join the Fortress-led consortium bidding for Britain’s fourth-largest grocer Morrisons, the report said.

Sainsbury’s did not immediately respond to a request for comment.

($1 = 0.7327 pounds)

(Reporting by Aditi Sebastian and Yadarisa Shabong in Bengaluru; Editing by Edmund Blair)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---