Sainsbury’s has formally confirmed that any talks regarding a possible takeover by Delta Two have ended – the deadline for an offer was today.
The grocer said it was informed late on Sunday by Qatari investment vehicle Delta Two that it had decided not to proceed with a bid for the supermarket chain.
Sainsbury’s chief executive Justin King said: “Interest in Sainsbury's has been borne out of the company's success to date in implementing its recovery strategy.
“We have remained focused on delivering great service to customers over recent weeks and months and have made significant progress towards making Sainsbury's great again. All colleagues can now continue to deliver towards the targets we have set.”
King said that the board believes Sainsbury’s continues to have great potential under the leadership of its strong management team.
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