SAINSBURY bidders give themselves a deadline

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SAINSBURY bidders give themselves a deadline

According to reports in the Sunday newspapers, the private equity consortium presently considering a bid for Sainsbury will decide within eight days whether to abandon the bid or to launch a former offer. According to sources close to the deal, the deadline imposed by CVC, KKR, Blackstone and Texas Pacific, is a direct result of the wave of negative publicity that the bid has brought about. In addition, there is increasing speculation that Sainsbury will request the Takeover Panel to impose a “put up or shut up” deadline.