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UK - B&Q in the sights of private equity

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The home improvement chain B&Q may be the next large listed asset lined up for a private equity bid, according to market sources. Owner Kingfisher saw its shares rise 5% this morning, one of the few gainers on the FTSE 100, along with Sainsbury's, which is understood to have received draft takeover plans from the private equity consortium currently looking at its books.

Interest in B&Q may have been triggered by financial results issued by Home Retail Group, which owns the Homebase DIY chain, revealing a 9.9% surge in like-for-like sales, with profits exceeding expectations in the City.

Since spinning out from the GUS group last year, Home Retail has also been talked about as a potential private equity target.

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