Deadline for Sainsbury’s Bid
March 7, 2007
PRIVATE equity bidders circling supermarket chain Sainsbury’s have been given until April 13 to declare whether they intend to make an offer. The ‘put up or shut up’ deadline was imposed by the Takeover Panel after an appeal to the regulatory body from advisers to Sainsbury’s. A private equity consortium made up of CVC Capital, Kohlberg Kravis Roberts, Blackstone Group and TPG Capital first announced it was looking into the possibility of making a bid at the beginning of February. Analysts estimate a deal could be worth as much as pounds 10bn.
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