6th Mar 2007 13:37
Takeover Panel06 March 2007 2007/8 SAINSBURY (J) PLC ("SAINSBURY") CVC CAPITAL PARTNERS, KOHLBERG KRAVIS ROBERTS & CO LIMITED, THE BLACKSTONE GROUP INTERNATIONAL LIMITED, TPG CAPITAL LLP ("THE CONSORTIUM") Following recent representations made by the advisers to Sainsbury, the PanelExecutive has been considering the application of Rule 2.4(b) of the Code to theapproach by the Consortium to Sainsbury. Following discussions with bothparties' advisers, the Panel has ruled that the Consortium must, by 5pm on 13April 2007, either announce a firm intention to make an offer for Sainsburyunder Rule 2.5 of the Code or announce that it does not intend to make an offerfor Sainsbury. No extension to this deadline will be granted, except with theconsent of the Panel Executive. In the event that the Consortium announces thatit does not intend to make an offer for Sainsbury, the Consortium and any personacting in concert with it will, except with the consent of the Panel Executive,be bound by the restrictions contained in Rule 2.8 of the Code for six monthsfrom the date of such announcement. Each of the parties has accepted this ruling. 6 March 2007 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Sainsbury's