[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Tuesday, 24 July 2007, 12:58 GMT 13:58 UK
Ex-Asda man 'to head Sainsbury's'
Shopper outside Sainsbury's store
The Sainsbury family rebuffed another bid earlier this year
A former Asda executive could become chairman of Sainsbury if a 10.3bn bid ($21.3bn) from Delta Two is accepted.

The Qatari state investment fund said it had lined up Tony Campbell for the post as part of its "commitment to strong corporate governance".

Mr Campbell is widely credited as having helped turn around the fortunes of Asda during the 1990s when he was deputy chief executive of the group.

The news comes amid reports the Sainsbury family will block the offer.

According to the Times, the family - which holds an 18% stake in the supermarket - is not happy about the amount of debt that Delta Two plans to take on under the proposed takeover.

The Qatari group has said it plans to finance its planned 600p-a-share offer with 6bn of debt.




RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific