Six private equity firms are reported to be lining up bids for Albertsons, the number two US grocer, in a deal that could value the company at up to $16.5bn (€13.6bn). Goldman Sachs and The Blackstone Group are running the auction.

The Los Angeles Times reports that buy-out groups Kohlberg Kravis Roberts, Texas Pacific Group and Apollo Management had formed one bidding consortium, with another being formed by Thomas H Lee, Bain Capital and Warburg Pincus.