United Kingdom retailer Sainsbury is said to be close to submitting a formal bid to acquire Nisa, a wholesaler and convenience store group that counts more than 2,500 independently-owned stores around the United Kingdom as members.
Shopkeeper members of local supermarket chain Nisa are set to vote on the future of the group, as Sainsbury's nears a £130m deal to acquire it.
Shares in Sainsbury's were 2.3% higher at 258.1p in morning trading, taking it to the top of the FTSE 100.
Uber to accept all recommendations given in Holder Report
Attorney Eric Holder on how to reform the company's culture following a months-long investigation by Holder and his team. Recommendations on company improvements will be released to employees on Tuesday, a spokesman said.
Sainsbury's is thought to be homing in on a £130 million takeover of Nisa after the mutually owned business hired bankers to explore a sale which Shore Capital's Clive Black said is likely to have been inspired by the Tesco-Booker combination.
"Sainsbury's move into convenience shows the brand's determination to remain a key player in the market".
The deal between Tesco and Booker is now being investigated by competition watchdogs before it can go-ahead.
Bummer buddies: Roomies Fowler, Thomas fizzle at US Open
The inevitable nerves that come with contending in golf's ultimate test didn't bother 27-year-old Brooks Koepka . I think it's a fair course. "But in my opinion, I would like to see another one here down the road, sure".
The deal would face a competition probe on the grounds that it could risk reducing competition and customer choice in the sector, according to people with knowledge of the matter.
Meanwhile, the proposed Tesco-Booker merger is now under investigation by the Competition and Markets Authority.
Nisa revealed last week that was looking to demutualise and seek a grocery buyer in light of Tesco's plans to merge with grocery wholesaler and convenience store operator Booker.
Mali security minister: 4 jihadis killed in resort attack
AQIM claimed the assault, saying the gunmen were from the Al-Murabitoun group of Algerian extremist Mokhtar Belmokhtar. The force has been a constant target for attacks by armed fighters, and many peacekeepers have lost their lives.
- What do we know about the Grenfell Tower tragedy so far?
- Trump to restrict business with Cuban military, limit travel
- Long road: Koepka's journey now includes a US Open title
- Britain's struggling Co-op Bank says in rescue talks with investors
- At Least 1 Dead After Vehicle Hits Pedestrians Near North London Mosque
- Van hits pedestrians in London; 'number of casualties' reported
- Labour want figures for all deals struck between DUP and Tories
- SNP MSP: Indyref2 plans cost party 'a lot of votes'
- Rep. Scalise upgraded from 'critical' to 'serious'
- U.S. president not under investigation for obstruction: His attorney