According to several sources in London banking the Qatar Investment Authority (QIA), the investment fund of the emirate Qatar, is considering an offer of 9.2 billion euro on Marks & Spencer.
Largest takeover in five years
QIA is said to have sounded interest of banks and investors, but at the moment it has stated a formal denial of any offer. If a deal is struck, it would entail the largest private takeover of a British company since American investment company KKR bought pharmacy chain Alliance Boots in 2007 for the amount of 16 billion euro.
According to the Sunday Times QIA, hasn’t knocked on the door of Marks & Spencer yet. Since 2010 the CEO of the company is Dutchman Marc Bolland. These past few years Marks & Spencer has sold less clothing, but it is still one of the most profitable retailers in the world.
The closing price of last Friday put Marks & Spencer at a value of seven billion euro, but the rumours of a takeover saw the share skyrocket, getting close to rising more than 10%. Even the denial of QIA couldn’t halt the rise.