Speculation resurfaced that Sainsbury's could be on the verge of a takeover, following a tentative offer of £12bn for the retailer by Qatari-backed investment group Delta Two. The FT said Delta Two was considering two options - make a full-blown takeover bid in the hope it could win a majority or use its 25% shareholding to force the restructure of Sainsbury's property portfolio.
The closure of 14 Tesco stores across the country at the weekend was the work of a 'lone fanatic' trying to extort huge sums of money from the retail giant, according to the Mail. It predicted that the closure of the stores had cost the company more than £2m in lost sales.
Magners producer C&C announced profits growth this year would be put on ice, blaming the appalling summer and rivals' price cuts. According to chief executive Maurice Pratt, 2007 could be a "lost year". In the three months to the end of May, sales rose 89% but price competition and a heavy advertising spend cut into profits, said the paper.
Bookshop owners will be joining the queues of people at the multiples for the final instalment of the Harry Potter series because their prices are lower than the wholesale rate, according to The Times. The rrp of the book is £17.99 and the wholesale price is £9.89, but retailers are advertising the book at £8.87, which means most are selling the book as a loss leader.