Sainsbury’s family stake on the market?
Davis not stepping down, says report
June 11 2003
Sainsbury’s shares have been lifted by reports that the controlling family stake is up for sale.
The Sainsbury family, which owns 37 per cent of the UK’s second biggest supermarket operator, is known to have considered liquidating its asset in the past. With the UK supermarket sector poised for a new round of consolidation, the rumours led to speculation that another major player was looking at the business.
Arcadia and Bhs owner Philip Green has been linked to a psssible bid for Sainsbury’s in recent weks, but has denied any interest.
There were also rumours circulating that Sainsbur’s chief executive Sir Peter Davis had stepped down. However, a company source told news agency Reuters that this was not the case.
