Morrisons shares rise on takeover chatter

Morrisons shares rise on takeover chatter
FILE PHOTO: A Morrisons supermarket is seen in Weybridge, Britain, August 19, 2016. REUTERS/Peter Nicholls/File Photo -
Peter Nicholls(Reuters)
Euronews logo
Text size Aa Aa

LONDON (Reuters) – WM Morrisons <MRW.L> shares jumped on Tuesday as traders cited market rumours that the UK supermarket chain could be subject to a takeover approach by U.S. online retail giant Inc <AMZN.O>.

They rose as much as 2.9 percent in midday trade and were up 1.9 percent by 1215 GMT, outperforming their UK peers. The FTSE 100 <.FTSE> was up 1.5 percent.

Chatter about the rumour was mentioned on the Financial Times’ Alphaville markets chatroom.

The chatroom moderator said: “There’s a mad story going round the traps about Amazon going for Morrison … Looks to me like wild speculation, but stranger things I guess…”

The supermarket chain has struck wholesale supply deals with Amazon and is widely seen as a potential takeover target for the U.S. company as it moves into bricks-and-mortar retailing after its takeover of Whole Foods.

Morrisons was not immediately available for comment.

(Reporting by Helen Reid, additional reporting by Paul Sandl; Editing by Josephine Mason)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.