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Article: Bidding war for Sainsbury as US rival joins private equity suitors
- Article from:
- The Scotsman
- Article date:
- February 7, 2007
- Author:
CopyrightCopyright 2007 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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A RIVAL transatlantic private equity takeover bid for the
Sainsbury supermarket group is emerging as a possibility just days
after CVC, Kohlberg Kravis Roberts and Blackstone Group said they
were mulling an offer.
Industry sources say Cinven and Texas Pacific Group are also
contemplating a bid, with the possibility that they will ask Bain
Capital to join them.
However, Sainsbury yesterday restated its position of last Friday,
that it had no comment because it had not received any takeover
proposal.
The CVC group was forced by regulators to disclose its plans after
media reports cited anonymous sources, pushing Sainsbury shares 15
per cent higher.
A source close to one of the firms ...