The rise, which comes after Sky News this weekend revealed details of the offer from US buyout giant Clayton Dubilier & Rice (CD&R), added more than £1bn to the group’s market value.
Rivals Sainsbury’s and Tesco also rose, adding 4% and 2% respectively, as investors digested the implications of the approach for the wider supermarket sector.
Meanwhile, the possibility of another one of Britain’s supermarkets being swallowed up in a private equity deal – after Asda was sold to a consortium led by the billionaire Issa brothers – has raised concerns from Labour.
