The likeliness of private equity acquiring Sainsbury's is in the balance today. With the Takeover Panel deadline set for this Friday, CVC is under pressure to up its latest 582p per share offer which is yet to be recommended by the company's board after the Sainsbury family stated it would not sell for under 600p. CVC was heading up a consortium but reports today suggest that it is now working alone after Blackstone and TPG withdrew from the bid. A 582p offer values the company at £10.1bn and includes a substantial offer of an equity stub for investors in the delisted entity. The deal's scheme of arrangement means the team of private equity buyers need 75% of shareholders to accept the offer. Currently the Sainsbury family, thought to hold 18% between them, and property entrepeneur Robert Tchenguiz, the owner of 5%, are against any offer below 600p. The Sainsbury's board has indicated that it will not recommend the offer or open its books knowing that a significant proportion of shareholders will reject the bid.
With SEP's support, Dohop intends to scale up its team and expand its global sales
Exit ends BPE's three-and-a-half-year holding period; the add-on is Stella's second under PAI
Combined group generates revenues of DKK 850m and employs 150 staff across 11 offices in Denmark
Sale process for the medical workwear company saw interest from FSN and Gilde, Mergermarket reported