His son, William, has also bought 2.1 million shares in the supermarket
Former Morrisons chairman Sir Ken Morrison has snapped up 2.6 million shares in arch nemesis Sainsbury’s, worth £6m.
His son, William, has also bought 2.1 million shares in the supermarket. The duo now have combined shares worth £11.9m in Sainsbury’s.
According to filings, Sir Ken bought his stake in April 2014 when Sainsbury’s was trading at about 300p.
In the past year, Sainsbury’s shares have outperformed Morrisons rising 8.6%.
Sir Ken told The Times: “It [Sainsbury’s] is a well-run company.” However, he didn’t comment on why he had bought a stake in the company.