RSS feedsainsbury
’Tesco’s Big Price Drop
The share edition that is…
And all because the UK grocer announced the following in its RNS trading statement on Thursday:
“In a challenging economic environment, we made good progress internationally but despite record sales,
Webvan slows down
The first cracks in the Webavan 2.0 investment case or something altogether less sinister?
From Ocado’s unscheduled trading statement on Wednesday:
The Board is encouraged by the progress of the business so far this year.
Snap news
Breaking pre-market news on Wednesday,
- Gartmore recommends £335m (92.1p a share) offer from Henderson — statement.
- Sainsbury reports like-for-like sales growth of 3.6 per cent over Christmas — statement.
Snap news
Breaking pre-market news on Wednesday,
- Julius Baer to buy ING Swiss private bank – statement.
- Spain’s Banesto 9-month net down 15.3 per cent on the year – report.
- Corporate: Air France KLM,
CDS report: Credit lags equity as sentiment turns negative
This CDS report was written by Markit’s Gavan Nolan
The outperformance of credit vs. equity has been the prevailing market trend in recent days. The major credit indices on both sides of the Atlantic have widened consistently this week,
CDS update: Retailers outperform in Europe, but disappoint in US
This CDS report was written by Markit’s Gavan Nolan
European credit continued to outperform equity today in a session dominated by domestic monetary policy and results across the Atlantic. Credit investors were unimpressed by the Bank of England’s decision to cut rates by 50bp to 1.5%.
Best ever Christmas for Sainsbury’s
Retail gloom? What retail gloom?!
Sainsbury’s has just recorded its best Christmas trading period ever. The supermarket’s highlights include:
• Total sales for third quarter up 4.8 per cent (5.3 per cent excluding fuel)
• Like-for-like sales for third quarter up 3.9 per cent (4.5 per cent excluding fuel)
• Continued growth in customer numbers:
The Tchenguiz positions are being liquidated
Who said this emergency was just about banks?
Pubs appeared to be have been forced into the toxic mix on Tuesday night as a huge line of Mitchells & Butlers was suddenly on the move. Some 90m shares in the All Bar One operator changed hands after the formal close of business in London at 130p apiece.
Feted of Doha: Sainsbury’s travels
This is all frightfully cosy.
The lead Qatar story no less in the Gulf Times on Monday related to this meeting shown right.
The caption, under the headline, SAINSBURY CHIEF FETED, ran:
THE Prime Minister and Foreign Minister Sheikh Hamad bin Jassim bin Jabor al-Thani,
Sainsbury shares slump after talks end
Sainsbury’s shares were left reeling as the Qatar-backed fund Delta Two walked away from its £10.6bn indicative bid for the company, unwilling to stump up a further £500m of equity to clinch the deal.
Credit and pensions prove unpalatable diet for Qataris
How embarrassing. After months of negotiation – over price, over gearing, over pensions – the Qatar-backed £10.6bn bid for Sainsbury got so close to shopping success, only to collapse before reaching the checkout.
Qatari group poised to walk away from Sainsbury
The Qatar Investment Authority was on Sunday last night on the brink of abandoning its £10.6bn bid for J Sainsbury, reports the Times. Sources in Qatar said it was “highly unlikely” that the QIA would press ahead with its bid,
Sainsbury takeover enters critical week
The future of J Sainsbury will be decided in the next 10 days as the Qatar Investment Authority decides whether to plug a £500m shortfall in its takeover bid for the UK supermarket. There is pride at stake,
Whose feet are dragging in the Sainsbury oil-for-food deal?
The Sainsbury buyout creeps on. But now there is an end-game.
The Takeover Panel on Friday slapped a deadline of 5pm, November 8, on the Qatar-backed Delta Two fund to make a firm intention to table an offer,
CDS report: Sainsbury pension stance hurts bid
J Sainsbury saw a dramatic fall in the cost of protecting its debt against default in European credit derivatives markets on Tuesday morning following Monday’s equally dramatic rise as the road to a potential buy-out of the UK supermarket group turned bumpy once more.
CDS report: Sainsbury wider on bid rumours
Sainsbury’s credit default swaps widened on Monday after a report suggested the board was about to recommend a £10.6bn takeover bid from a fund backed by the Qatari government.
Five-year credit default swaps widened by 15 basis points,
Sainsbury’s interminable story edges on
Could it be that a buyout of Sainsbury is creeping ever so slowly towards a conclusion? The joint statement from the retailer and its suitor Delta Two certainly seemed to suggest that.
What will we do without a putative Sainsbury’s bid in the background? It’s become part of the furniture round here.
An unlikely alliance: Tchenguiz rejects Delta price for Sainsbury
Having laid to rest those nasty rumours of an association with former Tory MP David Mellor, Delta Two has another problem.
This one’s in the form of Robert Tchenguiz. The property entrepreneur, who owns 10 per cent of the stock through shares and derivatives,
Mellor NOT, repeat NOT, advising on the Sainsbury bid
Surely David Mellor, the former Tory MP, isn’t that toxic?
In confirming that former Asda man Tony Campbell has agreed to become chairman of Sainsbury should the Delta Two bid for the grocer succeed,
Delta plans £3bn Sainsbury investment
Delta Two, the Qatari-backed investment fund seeking to take over J Sainsbury, also plans to invest £3bn in the retailer to expand into international markets, if its approach wins the Sainsbury board’s support.
Family matters meet Qatari money at Sainsbury
From the FT, in April:
Lord David Sainsbury of Turville has made it clear all along that he will not even consider selling his 7.75 per cent stake for less than 600p. John Sainsbury, Baron Sainsbury of Preston Candover,
Delta Two in £12bn move on Sainsbury
Delta Two, the Qatari investment group, has made a 610p a share offer for J Sainsbury, valuing the UK retailer at £12bn, just three months after the UK retailer rejected a high-profile offer from CVC Capital Partners,
Tchenguiz doubles stake in Sainsbury
Property entrepreneur Robert Tchenguiz has doubled his stake in J Sainsbury to £1bn, fuelling speculation of a fresh takeover approach for the supermarket giant, reports The Daily Telegraph. He is understood to have lifted his holding from 5 per cent to 11 per cent amid speculation that Delta Two,
Sainsbury plays down Delta factor
Justin King, chief executive of J Sainsbury, has indicated that he has not come under pressure from Delta 2, the Qatar-backed investment group, to initiate a radical overhaul of the supermarket chain’s property portfolio,
Sainsbury pressured on property assets
J Sainsbury, the supermarket group that last week found itself 25 per cent owned by a Qatari investment group, is expected to come under renewed pressure to defend its property-holding strategy as it issues a trading update on Wednesday that is expected to show the group heading for a 10th consecutive quarter of sales growth.
CDS report: Sainbury feels the Delta Force
The cost of protecting Sainsbury’s debt against default jumped on Friday following news that a major shareholder raised its stake in the supermarket chain.
The move by Qatari-linked investment fund Delta (Two) to raise its stake to 25 per cent sparked a flurry of speculation about Sainsbury’s future and the possibility of another bid for the former takeover target.
The insider analysis on J Sainsbury — Markets Live at 11am
We’ve got our mitts on an interesting document — not a bold print explanation of what the Qataris are up to in Sainsbury, we hasten to add, but something that may nevertheless shed some light on how His Excellency Sheikh Hamad bin Jassim bin Jaber Al Thani might be thinking.
What are the Qataris up to at Sainsbury?
The executives at Sainsbury must be having an interesting morning.
Delta (Two) – or His Excellency Sheikh Hamad bin Jassim bin Jaber Al Thani – now has 25 per cent of the company, CFDs etc included,
Deal or no deal: why investors don’t care
As well as disregarding risk, investors are starting to ignore actual disappointment too, observes Lex. “In the current private equity frenzy, when bids fail, the share prices of the target companies barely budge,” the column says,