RETAIL group Kingfisher rose on the London stock market yesterday after a report that US DIY store group Home Depot was considering making an £8bn bid for the company.
Stockbrokers were watching the situation closely after reports in the Sunday Observer that Home Depot's chairman, Bob Nardelli, was keen to expand into European markets to ease pressure in its saturated DIY market at home.
According to a group of Wall Street bankers, Mr Nardelli may approach Kingfisher's Irish-born chief executive, Gerry Murphy.
A Kingfisher spokesman said the company would not comment on market speculation.
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