Group was not party to revised offer
Private equity company Texas Pacific Group is understood to have withdrawn from the consortium bidding for supermarket group Sainsbury's and was not party to a revised£10.1 billion offer, it has been reported.
The private equity consortium increased its takeover offer to 582p a share, after Sainsbury's rejected a 562p-a-share indicative bid, but Texas Pacific is thought to have withdrawn at that stage.
Last week, fellow bidder Kohlberg Kravis Roberts also pulled out of the consortium.
CVC and Blackstone, the remaining consortium members, have until this Friday, April 13, to make a formal bid.
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