Prospects of a renewed offer for Somerfield by John Lovering and Bob Mackenzie’s consortium, Springwater, and a bid for Safeway from Philip Green remain in the balance.

A source close to Springwater said it remained committed to a Somerfield takeover despite no details of a new bid emerging since its initial offer was rejected by the Somerfield board on April 23.

The source believed the consortium, which appointed Morgan Stanley as an additional advisor at the beginning of May, will be looking into the implications of the deliberations from the Competition Commission inquiry.

Meanwhile, Safeway and Philip Green have not set a new date for a meeting to discuss the level of Green’s interest, which will add to speculation that Green has cooled off. They were due to meet on May 22 but it was postponed due to Green being ill.