Geest, the convenience food group is rumoured to be a target of Associated British Foods (ABF) according to the Daily Telegraph.

The paper said the rise may be related to positive figures from Waitrose. A spokesman for the supermarket said: 'Sales of our prepared salads rose by 15 per cent over the last 13 weeks compared with the same period last year.' However, there has been speculation that ABF's rumoured takeover may be attributed to its £836 million cashpile.