THE TELEGRAPH: Members of the Sainsbury family will move to block the Qatari bid for the supermarket chain – unless a deal is struck with the group's pension fund trustees.
The Sainsbury family fear that Sir Philip Hampton, the chairman of Sainsbury, plans to recommend a 600p-a-share offer for the retailer from Delta Two – despite the fact that the Qatari-backed investment fund has yet to reach an agreement with the trustees of the Sainsbury pension fund.
A spokesman for the principal members of the family made clear their opposition to a deal unless the pension fund trustees are on board.
"We have consistently made clear the principles on which we would address any offer. Important among these is that the pension scheme is properly looked after," he said.
Without an agreement with the pension fund trustees, the family is expected to oppose the deal. Sainsbury deal hits deadlock over pensions (more) By Richard Fletcher and Ben Harrington
Mark Alexander
