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Permira considers £5bn offer for Sainsbury's

Permira is reported to be considering an offer of over £5bn for the UK's third largest food retailer J Sainsbury. The private equity firm is currently in talks with other potential financial backers, according to the Sunday Times. Permira's offer is being led by managing partner Damon Buffini.

Despite repeated denials that Sainsbury's is in take over talks there has been heavy trading in the company's shares this month as bid rumours continue to surround the business.

If the deal goes ahead Permira will be investing from its third pan European fund, which closed with commitments of over E5bn in October last year. The fund's closing made it the largest pool of private equity capital ever to be raised for investment in the region.

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