Shares in Ocado were climbing again yesterday amid renewed speculation that Morrisons could be preparing a bid.
Morrisons was linked with a move for Ocado late last year, although senior figures at the Bradford-based supermarket have played down the chances of a bid.
Chief executive Dalton Philips this month gave his strongest backing yet to Morrisons’ embryonic online venture. “When we [launch online], we will offer something really special and we will make money,” he said during the retailer’s Christmas trading update.
Ocado’s share price yesterday closed at a new high of 239p. City sources suggested rumours of interest from a US investor could also have caused the spike.
Philips: online Morrisons ‘will make money’ (15 January 2011)
Ocado shares hit post-float high amid bid talk (5 January 2011)