The fund yesterday confirmed reports that Tony Campbell, former deputy chief executive of Asda would be prepared to serve as chairman of Sainsbury's if its approach is successful.
The proposal it had submitted to Sainsbury's “makes clear Delta Two's commitment to strong corporate governance”, Delta Two said. It intended to have an independent non-executive presence on the board of Sainsbury's, it added.
However, Delta Two quashed reports that former Conservative Party cabinet minister David Mellor had been advising Delta Two on the bid as a business development director.
“David Mellor is employed as Three Delta's business development director focusing on future potential investments,” the fund said. “He is not an adviser to Delta Two in relation to its possible offer for Sainsbury. Mr Mellor does not advise Qatar on any matters, political or otherwise, and has no direct contact with Qatar.”
Meanwhile, Delta Two has reportedly responded to a letter sent by the Sainsbury's family voicing its concerns on the approach.
Reports yesterday suggested the family had written a letter which said they would not back a takeover that left Sainsbury's in too much debt or sold off its property portfolio.