Morrisons sees shares rise amid buyout rumours

Morrisons shares have risen 5% following announcements that the founding family is contemplating taking the company private, it has been reported.

According to Bloomberg, the family, which owns around 10% of the chain, has contacted private equity funds CVC Capital Partners Ltd, Apax Partners LLP and Carylye Group LP.

The report, which valued a buyout of Morrisons at around £7bn, said the family had been unable to find a buyer following slow sales growth.

Figures published by Kantar Worldpanel yesterday revealed Morrisons' sales had fallen by 2.5% for the three months ending 2 February.

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