Jun 22, 2023
Ocado shares surge on Amazon takeover rumours
Ocado shares have surged amid speculation that the online grocer might be the subject of takeover talks from Amazon or another US tech firm. Ocado and Amazon declined to comment on the report in the Times, which sent shares in the struggling firm up more than 40% at one point. Ocado was a market darling during the pandemic, ranking as the UK's most valuable retailer, despite commanding a tiny fraction of purchases. Under UK takeover rules, companies seriously exploring such moves typically have to disclose their interest to investors. Ocado was founded by three Goldman Sachs bankers in 2000, and started trading as a business in partnership with Waitrose in 2002.
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