// Shares in the online grocer fell back this week after surging following reports of a possible takeover bid
// Amazon, reported by The Times as a possible suitor, has declined to comment
Ocado shares dropped yesterday after rumours of a possible takeover bid from Amazon died down.
Reuters said that traders attributed the shares plunge to an unconfirmed media report suggesting that Amazon had denied speculation it would table an offer for the online grocery specialist.
Interest in Ocado swelled last week following a report in The Times that the online grocer had caught the attention from several US suitors.
The news that Amazon was considering an 800p-a-share move saw Ocado shares rocket near 40%.
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However, both Amazon and Ocado declined to comment on the speculation.
The online grocer has had a rocky time on the stock exchange as of late after a JP Morgan research note cut its target price.
The revaluation came after the grocer narrowly survived being cut from the FTSE 100 despite fears its sharp decline in value over the past 12 months would knock it out of the index.
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