Union concerned over Sainsbury's takeover
Union bosses are calling on Sainsbury's board to block the takeover bid from Qatar-based fund Delta Two.
Unite, one of the UK's largest unions, is urging the chain to stop the £10.3bn bid over fears for the job security of its 20,000 members working for Sainsbury's.
The plea comes amid growing uncertainty over Delta Two's ability to secure financing for the debt-heavy offer.
The credit market turmoil in recent weeks has stalled a number of buyouts as banks tighten borrowing controls.
Weakening expectations over the success of the Delta Two deal hit Sainsbury's shares, which sank 5.7% to 512p.
The Delta Two bid has struggled to win approval from the Sainsbury's family, who still own 18% of the company
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