J Sainsbury’s takeover deal could be concluded by 8 November.

The future of UK supermarket J Sainsbury is expected to be decided in the next ten days whilst the Qatar Investment Authority (QIA) considers plugging a £500 million shortfall in its takeover bid.

The company charged with carrying out the transaction, Delta Two, is currently proposing an offer price of 600 pence per share in cash.

A statement by J Sainsbury read: ‘There can be no certainty that such funding will be forthcoming and, therefore, no certainty that an offer will be made.’

J Sainsbury and Delta Two agree that it is in the best interests of shareholders and colleagues to bring the deal to a conclusion as soon as practicable. Therefore, at the request of both companies, a deadline of 5.00pm on 8 November 2007 has been set.

By Natasha Piscitelli