Somerfield, the UK supermarkets group, has defended the purchase by John von Spreckelsen, executive chairman, of 100,000 Somerfield shares just before the group received a takeover proposal.

Von Spreckelsen has made a paper profit of £20,000 (€29,000) on the shares, which he bought on Thursday for 70p each. Somerfield, which has a market capitalisation of £366m, said on Tuesday it had received a takeover approach on Friday from an unnamed party. The company's shares, which closed at 74p on Monday, subsequently rose to 90p by 12:30 BST on Tuesday.