Delta Two’s £10.6bn planned acquisition of J Sainsbury hit a wall yesterday after Qatari-backed investment fund told the retailer at the eleventh hour that it needed another £500m before it could make an offer.
The surprise disclosure, communicated to Sainsbury after the market’s close on Thursday night, irritated the board and brought a level of unsecurity to the deal.
Shares fell 3% to 565.5p, against a proposed 600p a share offer.
Financial Times 27/10/07 1 Daily Telegraph 31 The Times 56 The Guardian 30 The Independent 53
