1st Mar 2007 07:00
Marks & Spencer Group PLC28 February 2007 Marks and Spencer Group plc 28 February 2007 Statement regarding J Sainsbury plc ("Sainsbury") In response to recent speculation, the Board of Marks and Spencer Group plc ("Marks and Spencer") confirms that it has been considering its position inrelation to a possible combination with Sainsbury. Further to this, the Boardhas decided that it does not intend to make an offer for Sainsbury at this time. For the purposes of Rule 2.8 and other relevant provisions of The City Code onTakeovers and Mergers ("City Code"), Marks and Spencer reserves the right toannounce an offer or possible offer or make or participate in an offer orpossible offer for Sainsbury and/or take any other action which would otherwisebe restricted under Rule 2.8 of the City Code within the next six months, in theevent that: (i) an agreement or recommendation from the board of Sainsbury is forthcoming;or (ii) there is an announcement by CVC, KKR and Blackstone of a firm intention tomake an offer or there is an announcement by any other third party of a possibleoffer or a firm intention to make an offer for Sainsbury or Sainsbury announcesthat it has received an approach in relation to a possible offer from any otherthird party; or (iii) Sainsbury announces a "whitewash" proposal for the purposes of Rule 9 ofthe City Code or a reverse takeover; or (iv) there is a material change in circumstances. Enquiries: Marks and SpencerAmanda Mellor 020 8718 3604 / 07747 461 241Corporate Press Office 020 8718 1919 020 8718 2000 (out of hours) Tulchan Communications 020 7353 4200 / 07770 536 202Kirstie Hamilton This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Marks & SpencerSainsbury's