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Deals

UK's Morrisons says talk of firm as takeover target 'pure speculation'

FILE PHOTO: A Morrisons supermarket is seen in Margate, Britain, September 8, 2018. REUTERS/Marika Kochiashvili

LONDON (Reuters) - Talk that Morrisons MRW.L, Britain's No. 4 grocer, could be subject to a takeover bid is "pure speculation", its chief executive David Potts said on Thursday.

Industry analysts have suggested that Morrisons could be a candidate for a potential takeover, possibly from an overseas private equity firm, given the weakness of the pound making deals cheaper and the group’s 27% share price fall over the last year.

Reporting by James Davey; Editing by Alistair Smout

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