Shares in Somerfield rose 2p to 188.75p after it was announced that the grocery retailer is in talks to buy 140 forecourt convenience stores in the UK from Texaco.

Under the terms of the agreement the convenience stores will be refitted, branded and operated by Somerfield who will also operated the forecourts.

If the acquisition goes ahead, Somerfield will be increasing its forecourt convenience store portfolio to over 170 stores.

Share prices were also aided by reports regarding the 190p share indicative offer from retailer Baugur, which some analysts say Somerfield should reject.

Seomerfield’s board is expected to make an announcement about the offer tomorrow.

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