Delta Two and Sainsbury’s pension trustees inched closer towards agreement over the pension fund terms as they met to discuss the Qatari investment group’s £10.6bn indicative offer. Financial Times

Sources said talks yesterday between Paul Taylor, head of Delta Two, and John Adshead, head of trustees, had gone relatively well – but that a formal offer this week was unlikely.

The Sainsbury family has issued an ultimatum to Delta Two to reach agreement with the pension fund trustees.