Consortium 'raising Sainsbury's bid'

The private equity consortium circling Sainsbury's is said to have upped its offer for the group to more than £10bn (€14.67bn), in a move which could spark tensions between shareholders of the supermarket chain.

The consortium, consisting of CVC, Blackstone and Texas Pacific Group, raised its offer by 20p following Friday's initial approach of 562p a share, which was rejected by the board for being too low.