Sainsbury's Shares Up On Takeover Speculation, BMI Sees Risks From Possible Property Spinoff

Shares in British retailer Sainsbury's rose by nearly 5% on Wednesday July 7 2010 following speculation that the Qatar Investment Authority (QIA) could again be interested in acquiring the business. In 2007, QIA launched a bid for the firm through its Delta Two unit but the 600p per share bid faltered following disputes over valuation and a public spat with the Sainsbury family. The 2007 attempt left QIA with 26% of the business and there are now suggestions that it will use this stake to launch a new takeover bid. QIA is attracted by Sainsbury's valuable property portfolio but BMI

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