UK - Sainsbury deal faces opposition from Tchenguiz

Delta Two is facing additional opposition to its 600p per share bid for UK supermarket chain J Sainsbury. The well-documented resistance to the bid from the Sainsbury family, has been boosted by news that property entrepeneur Robert Tchenguiz also believes 600p is too low. Tchenguiz, the owner of 10% of Sainsbury's stock, is thought to believe that an offer closer to 610p is a fairer price.