UK Pensions - Pensions disputes hit M&A activity

News

The £10.5 billion takeover of UK supermarket group Sainsbury by the Qatari-backed Delta Two investment fund and £2.3 billion move by private equity group Terra Firma for record company EMI have both been thrown into doubt by trustees seeking extra cash injections to their pension funds in the face of leveraged takeovers.

On 26 October Delta Two announced that it was seeking an additional £500 million of equity from its Qatari backers in order to secure its bid to take Sainsbury's private. Sources

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