Qatari-backed investment group Delta Two has made a tentative offer of 610p share, or about £12bn, for Sainsbury’s – just three months after the UK retailer rejected a high-profile bid from private equity group CVC Capital Partners. The Times. Daily Telegraph. Financial Times
Delta Two, which owns 25% of Sainsbury, has approached the board of the retail group, which is led by chief executive Justin King, with its proposal. King and his management are thought to be willing to discuss the offer.
Paul Taylor, who manages Delta Two, is understood to have flown members of the Sainsbury family to Sardinia last week where he made an informal approach.
However, the family, which owns 18% of the company, is reported to be unsupportive of this proposal.