Sainsbury back in play after £1.4bn share sale

J Sainsbury was facing the prospect of a renewed takeover assault this morning following the sale of shares in the company worth £1.4bn (€2.1bn), more than 10% of the UK retailer, potentially by its largest shareholder.

Bloomberg reports that a block trade of 248 million shares was traded at 575p per share this morning by unknown market participants. The price was an 9% premium to the market close last night.

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