Ocado Shares Boosted By Morrisons Takeover Rumours

Shares in the online grocery retailer Ocado rose to a record high yesterday following renewed speculation of a takeover bid by Morrisons .
Ocado shares increased 5 per cent last night to close at 239p. Yesterday’s jump means shares have risen by almost 35 per cent this month, in addition to the 20 per cent gain seen in December.
Morrisons was first linked with a move for Ocado last November, although interest in the grocery delivery firm has been played down by senior staff at the Bradford-based supermarket chain.
Earlier this month, Morrisons’ chief executive Dalton Philips said that the company was solely focused on launching its own web-based grocery delivery service .
Speaking during the retailer’s Christmas trading update, he said: “When we [launch online], we will offer something really special and we will make money.”
When asked if talk of a takeover bid was true, Richard Pennycook, Morrisons’ finance director Richard Pennycook said: “The way the stock market works, if there was anything real there, the authorities would have made us say something.”
“The fact you’ve heard nothing gives you a pretty clear steer that these are rumours.”