Ocado shares rise amid Amazon bid speculation

Ocado shares have risen by as much as 40% amid speculation of bid interest from more than one American suitor this week.

The online-only grocer’s sat near the top of the FTSE 100 leaderboard for most of the session yesterday (21 June), The Times reported as rumours swirled that retail heavyweight Amazon could be looking at an 800p-a-share takeover bid.

It is thought that Goldman Sachs and JP Morgan acting for the bidders.

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Ocado’s shares had taken a hit earlier this week after a JP Morgan research note cut its target price.

Earlier this month, Ocado narrowly survived being demoted from the FTSE 100 index as its stock value more than halved in the past year.



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