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
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.