Blog: OFT keeping its powder dry on Sainsbury's
Dean Best | 6 August 2007
just-food was surprised to read reports this weekend that the Office of Fair Trading had held informal talks with Delta Two, the investment fund looking to buy UK retailer Sainsbury’s.
The OFT was said to have approached Delta Two and discussed the fund’s proposed bid for Sainsbury’s.
Delta Two, an investment vehicle backed by the Qatar government, has indicated that it would bid GBP10.6bn (US$21.5bn) for Sainsbury’s and borrow some GBP6bn to fund the takeover.
There have been concerns over the amount of cash Delta Two would look to borrow to finance the deal, not least from UK trade unions worried over the level of debt that could be placed on the business.
However, to suggest that the OFT would act on those concerns at this point in proceedings is misguided. First, there has been no official bid from Delta Two for Sainsbury’s and secondly, should the OFT wish to hold talks with the fund, it would do so under standard official procedures as an impartial, administrative body.
Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....
FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....
To follow on from our earlier notice and after some hard work from our technical team, just-food is back live after today's power outage....
Much of the UK has felt the impact of Storm Doris today - and just-food's head office has been no exception....
- General Mills sales woes continue - analysis
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Comment: Meal kits in US - don't believe the hype
- Analysis: Chocolate sector's deforestation pledge
- Kraft Heinz cuts jobs in US, Canada
- Mondelez set for union crosshairs next week
- Mondelez plays down impact of union action
- Brazil seeks to cool concerns over meat probe
- US meal delivery service Blue Apron buys BN Ranch