John Hargreaves, the chairman of Matalan, is expected to table an £817m bid for the low-price chain on Wednesday when a Takeover Panel deadline expires.
The 200p a share offer will be backed by Barclays Capital and Hargreaves who, together with his family, controls 53% of Matalan.
It is understood that, barring last-minute glitches, financing is in place and the deal is on track.
References: The Times 07/10/06 page 63
