and now .....
Woolworths Rises on Speculation About a Takeover Bid (Update1)
By Louisa Nesbitt and Roger Neill
Oct. 10 (Bloomberg) -- Woolworths Group Plc, whose U.K. stores sell goods from appliances to children's clothes, rose the most in two months in London trading on speculation the company may receive an offer.
Matthew McEachran, a London-based analyst at Kaupthing Singer & Friedlander, said in a report yesterday U.K. grocers might be interested in a tie-up with London-based Woolworths.
``There is a rumor going round that Morrison is considering a bid for Woolworths,'' McEachran, who has a ``buy'' recommendation on the stock, said in a telephone interview today. Woolworths spokeswoman Celia Gordon Shute and William Morrison Supermarkets Plc spokeswoman Sarah Gestetner declined to comment.
Woolworths shares rose 1.75 pence, or 9.3 percent, to 20.5 pence, the biggest percentage increase since July 31.
To contact the reporter on this story: Louisa Nesbitt in London at
[email protected]
Last Updated: October 10, 2007 11:56 EDT