The private equity consortium which is considering making an offer for Sainsbury's will reportedly make its decision in eight days time.

Last month, private equity firms CVC Capital Partners, Kohlberg Kravis Roberts and The Blackstone Group admitted they were at the "preliminary stages of assessing Sainsbury's".

However, the consortium is keen to bring matters to a head as soon as possible because the bid has created negative publicity, according to reports in the Independent on Sunday.