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UK's Sainsbury's exploring bid for Palmer & Harvey

Staff Writer |
Sainsbury's is in the early stages of examining a takeover bid for tobacco distributor Palmer & Harvey, Sky News reported.

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It cited unspecified sources as saying that while Sainsbury's was exploring a bid there was no certainty it would proceed with an offer.

Palmer & Harvey is a major distributor of tobacco products to Tesco, Britain's biggest retailer which in January agreed a 3.7 billion pound ($4.8 billion) takeover of wholesaler Booker.