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(Reuters) -Sainsbury's shares surged 14% on Monday after a report that private equity firms could launch bids worth more than 7 billion pounds ($9.6 billion) for Britain's second biggest ...
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British supermarket group Morrisons said on Thursday its board would unanimously recommend U.S. private equity group CD&R's 285 pence a share offer worth 7 billion pounds and drop its previous ...
J Sainsbury plc, trading as Sainsbury's, [a] is a British supermarket and the second-largest chain of supermarkets in the United Kingdom.. Founded in 1869 by John James Sainsbury with a shop in Drury Lane, London, the company was the largest UK retailer of groceries for most of the 20th century.
Under the terms of the agreement with Sainsbury's to acquire Home Retail Group, for each Home Retail Group share, shareholders received 0.321 new Sainsbury’s shares and 55p per share. As a result of the sale of Homebase, they also received 25p per share, plus the year's dividend as a final dividend payment. [22]
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Sainsbury's in February updated the market on its strategy, setting a new cost-savings target of 1 billion pounds ($1.3 billion) over three years and pledging to boost returns for shareholders.
King joined Sainsbury's on 29 March 2004, [7] and was seen as the company's last chance to win back market share from its rivals and remain independent – the previous CEO, Sir Peter Davis, failed to halt the supermarket's slide in market position despite a £3 billion investment in infrastructure. He was offered £675,000 a year salary.