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More bid talk at Sainsbury's

The potential takeover of Sainsbury's by investment vehicle Delta Two rumbled on this week with reports that the grocer was seeking guidance from the Competition Commission about whether a deal would be allowed through.

The Sainsbury's board was due to meet with Delta Two as Drapers went to press to discuss boosting the equity part of the £10.6 billion bid. Shares rose 16p to 531p.

Separately, Next's shares rose 74p to 1869p as analysts forecast a strong autumn, on the back of improved ranges and better shop fits ahead of its interim results on September 11. Pali International analyst Nick Bubb said he expected the mid-market chain to be a winner in spite of the huge volume of space coming on stream in the middle market.

Alexon bounced back 20.5p to 229p after a 25p fall last week. Its interim results are due on September 24, when the market will be looking for an update on the potential sale of its menswear chain Envy.

Meanwhile, Marchpole dipped 3.5p to 123.5p. The luxury fashion supplier is understood to be close to signing a deal to open Emanual Ungaro stores in South America. Separately, deputy chairman and company founder Michael Morris collected £1.1 million in salary and bonus last year thanks to improved performance.

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