Marks and Spencer shares have been high throughout the day on news of a potential takeover by the Qatar Investment Authority (QIA). They are currently trading up by over 8.5 per cent for the day.
(Source: Yahoo! Finance)
Our reporter Marion Dakers:
M&S is once again the subject of takeover interest. Like Topshop owner Sir Philip Green before it, the latest rumoured suitor is already a well-established name in UK retail.
Qatar Investment Authority, the proud owner of 26 per cent of J Sainsbury, is known for its non-combative approach with boards, and seldom for punchy investment moves. The sovereign wealth fund is typically mute in public about its strategy, and its track record at Sainsbury’s, where it twice backed off from possible bids, make a sudden or hostile pounce on M&S seem unlikely.