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Morrisons says talk of firm as takeover target 'pure speculation'

Morrisons says talk of firm as takeover target 'pure speculation'
FILE PHOTO: David Potts, chief executive of Morrisons, gestures during a news conference in London, Britain September 10, 2015. REUTERS/Toby Melville -
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Toby Melville(Reuters)
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LONDON (Reuters) – Talk that Morrisons <MRW.L>, Britain’s No. 4 grocer, could be subject to a takeover bid is “pure speculation”, its chief executive David Potts said on Thursday.

Industry analysts have suggested that Morrisons could be a candidate for a potential takeover, possibly from an overseas private equity firm, given the weakness of the pound making deals cheaper and the group’s 27% share price fall over the last year.

(Reporting by James Davey; Editing by Alistair Smout)

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