US company Fortress, which missed out on Morrisons, has said it is still eager to buy a UK firm
Sainsbury’s was the top riser on the FTSE 100 on Monday as investors bet that the supermarket chain could be the next target for a takeover after the US firm Fortress, which narrowly missed out in an auction battle for Morrisons over the weekend, said it was still keen on buying a UK company.
Shares in Sainsbury’s rose by almost 5% to 298p, while Tesco was also one of the best performers on the UK’s index of blue-chip stocks, up 2% at 253p, as traders speculated where Fortress and other private equity firms might focus their attention.