Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Drapers share monitor: Sainsbury’s bid hangs on pension deal

Family shareholders at Sainsbury’s have told the supermarket’s suitor Delta Two they will only back its £10.6 billion takeover bid if an agreement can be made with the pension fund trustees over the amount needed to fund the pension. A formal offer was expected as Drapers went to press. Shares were up 2p to 579.5p.

Mosaic chief executive Derek Lovelock will retire as non-executive chairman of Jacques Vert on November 1. He will be replaced by Steve Bodger, who is a non-executive director at the business.

Meanwhile, Sports Direct International has raised its stake in Umbro to 20.53 million shares, equivalent to a 14.05% stake, up from 13.14%. Umbro shares rose 15p to 124.75p.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.