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Sainsbury's to meet Delta Two

Published:  23 July, 2008

UK: Sainsbury's and Delta Two are expected to meet later today as the two parties continue to discuss the Qatari investment fund's 600p a share offer for the retailer.

Sainsbury's chairman Philip Hampton will reportedly ask Delta Two to substantially increase its 10.6billion offer and reduce the amount of debt in the deal. The Sainsbury's family is also understood to oppose the offer.

Meanwhile, the Office of Fair Trading has denied reports that it warned Delta Two that any possible deal for Sainsbury's must not affect the retailer's competitiveness.