The takeover of Sainsbury’s moved a step closer today after the supermarket chain agreed to open its books to a potential bidder.
The move by the company’s board of directors follows 10 weeks of talks over the terms of an indicative offer from Qatari-backed investment fund Delta Two.
The fund, which already owns 25% of the company’s shares, will still offer 600p a share, which values the chain at £10.6bn (€15bn).