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Sainsbury’s stock was up 4.2 pence at 288.9 pence at 0858 GMT, valuing the business at 6.7 billion pounds ($9.1 billion).
Fortress was defeated in Saturday’s shootout for Morrisons, Britain’s No. 4 supermarket group, bidding 286 pence a share – a penny less than rival Clayton, Dubilier & Rice.
However, managing partner Joshua A Pack signalled Fortress remained interested in UK assets.
“The UK remains a very attractive investment environment from many perspectives, and we will continue to explore opportunities to help strong management teams grow their businesses and create long-term value,” he said in a statement.
A spokesperson for Fortress declined to comment on Sainsbury’s, which trails only market leader Tesco (OTC:TSCDY) in UK grocery sales.
A Sainsbury’s spokesperson also declined to comment.
Shares in Sainsbury’s are up 28% this year, buoyed by bid speculation.
That started in April when Czech billionaire Daniel Kretinsky raised his stake in Sainsbury’s to just under 10% and has been fuelled by the bid battle for Morrisons and signs CEO Simon Roberts’s “food first” strategy is starting to work.
($1 = 0.7381 pounds)
