Pensions wrangle helps defeat second Sainsbury bid

J Sainsbury's £3.4bn (€4.9bn) pension fund has undermined a second private equity bid for its parent in nine months, after the Qatari-backed investor Delta Two walked away from its £10.6bn offer for the company this morning. The deal marked one of the first times trustees had been directly and formally brought into negotiations over a takeover approach.

In a statement, Delta Two said its decision "reflected a combination of factors including the deterioration of credit markets which impacted the terms of lending ... and the arrangements for the future funding of the Sainsbury pension schemes."

WSJ Logo
U.S.’s Biggest Asian Allies Ready Last-Ditch Trade Appeal to TrumpExternal link

U.S.’s Biggest Asian Allies Ready Last-Ditch Trade Appeal to Trump