M&S takerover bid

Marks and Spencer (Quote, Profile, Research) declined immediate comment on Wednesday on a report its Chief Executive Stuart Rose is considering a bid for Britain’s number three supermarket owner J. Sainsbury (Quote, Profile, Research).News agency Bloomberg reported Rose saying: “Assets like this don’t come on the market very often. The company is effectively in play. Your shareholders would think you were an idiot if you didn’t consider it. Watch this space.”

A Marks and Spencer spokeswoman said the company was not immediately able to comment. The Takeover Panel, which monitors company bids, was also not available for comment.