The board of Sainsbury’s is set to recommend a revised takeover offer from Delta Two, the Qatari-backed investment fund. The Independent on Sunday. The Daily Telegraph
A stock market announcement is expected towards the end of the week.
The Delta Two takeover offer values Sainsbury's at 600p per share, or £10.6bn and it is believed that Delta Two has also won the backing of the Sainsbury's pension fund trustees, who had been concerned that the deficit in the fund would not be plugged in the event of a leveraged takeover.
The scheme has 85,000 members and £4.25bn of funds under management, and last reported a deficit of £100m.