Tesco chief executive Sir Terry Leahy and finance director Andrew Higginson were in the US this week, fuelling further speculation that the chain is close to announcing a deal.
However, although a Tesco spokesman confirmed that Sir Terry and Higginson were both visiting the east coast, he denied it had anything to do with acquisitions.
“They are in the States with our investor relations team meeting with investors. They are in New York for just a couple of days.”
However, many analysts believe that Tesco is keen to do a deal. As revealed in The Grocer last month, Tesco had been in talks with US chain Meijer about taking a 49% stake in the mid-west company for £2.5bn.
Although Tesco refused to comment on the story, recent reports suggest that the offer was rejected by Meijer.
Some City sources also believe that the issue is creating tensions on Tesco’s board, with some non-executives worried about the way shareholders would respond to any deal in the potentially-difficult US market.
The Grocer Price Index