Delta Two/Sainsbury’s: Emir formality

Will J Sainsbury succumb to the lure of the East? The UK supermarket group has received a preliminary offer from Delta Two, a fund backed by the Emir of Qatar and his prime minister. At the mooted 610p a share, an offer would value Sainsbury’s at £12bn including debt - and might be hard to bat away. The Qataris have learned from the dismal failure of CVC, the buyout firm that failed to buy Sainsbury’s earlier this year. First, they are offering more money. When CVC dangled 582p, one member of t...