Private equity firm Cinven has reportedly dropped plans to form a rival team in the bid for UK retailer Sainsbury.
The private equity consortium CVC, KKR and Blackstone remains in the fray after declaring a timid interest for Sainsbury earlier in the month.
But, according to UK press reports, Cinven has ditched its plan to bid for the supermarket chain over price worries, with its potential partner Texas Pacific joining forces with CVC, KKR and Blackstone.
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