ONE of the largest multinational companies in Ireland is being sold to a private equity firm in a deal valued at $4.5 billion (€3.3bn).

Wall Street fell for the first time in four sessions today as concerns about the technology and energy sectors overshadowed some 81 billion in takeover activity.

Takeover target Somerfield was today urged by shareholders to walk away from a bid rather than accept a cut-price offer.

A renewed rise in oil prices stifled a rally on Wall Street today, leaving stocks mixed and investors worrying that costs will climb further despite Saudi Arabia’s vow to boost production.