Takeover will happen next week - Sainsbury speaks

By Andy Baggott
November 6 2004

Sebastian Sainsbury, speaking live on Radio Aire this afternoon, says the takeover will be signed on Monday, and completed on Thursday He says he has talked to the condortium, including Michael Lucas, and the deal has been agreed. He has confirmed that there will be funds to spend on transfers, and thjat $50 million is sat in a US bank to fund thge deal, which will cost around £25 million. More news to follow

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