Takeover rumours send M&S shares soaring

CVC is said to have approached management to discuss its role in a potential take-private, but the move has not yet gone beyond a preliminary examination, newswire Bloomberg reported.

M&S shares were up 4.26% to 371.1p at closing on Friday, but have since then dropped to 364.4p. The retailer was valued at 6.2x EBITDA at the end of July – last week's rally pushed its valuation up to 10.9x EBITDA, Bloomberg added. M&S's market cap stood at £5.76bn this morning.

CVC, which is currently investing from an €11bn fund raised in 2008, previously attempted to acquire retail chain Sainsbury's in a £10bn pound deal in 2007 but eventually had to shelve the plan.

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• Topics
• Buyouts
• UK / Ireland
• Consumer
• CVC Capital Partners
• Take Private