UK: Boots deal could scupper Sainsbury’s bid
A buyout approach made to Alliance Boots has raised speculation that a private equity takeover bid for the UK's third largest supermarket chain, Sainsbury's, could be off the cards.
Consumer goods retailer Alliance Boots has received a GBP9.7bn (US$18.74bn) offer from deputy chairman Stefano Pessina, with the backing of private equity firm Kohlberg Kravis Roberts (KKR).
KKR is also a member of the consortium that declared its interest in Sainsbury's at the beginning of February. If KKR were to decide it is unable to combine the two projects, the Sainsbury's consortium would need to find a new partner or rearrange itself by 13 April, the deadline set by the UK's Takeover Panel.
The consortium eyeing Sainsbury's currently consists of KKR, CVC, Blackstone and Texas Pacific. It has been reported that the consortium could have lined up Goldman Sachs, Royal Bank of Scotland and Barclays Capital to help finance the move should KKR drop out.
Sainsbury's shares, which have skyrocketed since the news of private equity interest broke, dropped 2.21% to 532 pence at time of press.
Sainsbury's Middle Eastern suitor has armed itself with a US$3 billion warchest, reports said yesterday (3 September)....
Sainsbury's and the Qatari-backed investment group Delta Two look to be getting closer to reaching agreement on the composition of the latter's mooted GBP10.4m (US$21bn) takeover of the UK supermarket...
A fresh set of talks between UK retailer Sainsbury's and suitor Delta Two, the Qatari-backed investment fund, have been scheduled after a round of discussions earlier this week....
There is "strong opposition" among workers at UK retailer Sainsbury's to a possible takeover by Qatari-backed investment fund Delta Two, according to the UK's largest trade union....
UK supermarket retailer Sainsbury's has denied breaching food safety regulations by offering food for sale after it had past its use-by date at one of its stores in Central London....
UK grocer Sainsbury's is launching a GBP1m (US$2m) fund aimed at enabling farmers in developing countries to join Fairtrade initiatives....
The turmoil in global credit markets could force Delta Two, the Qatari investment fund bidding to buy UK supermarket group Sainsbury's, to raise the equity element in its GBP10.6bn offer, the Financia...
Talks between UK retailer Sainsbury's and potential bidder Delta Two will continue next week as both sides discuss the investment fund's possible takeover offer for the company....
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