Royal Mail boss ready to take charge at Sainsbury's
Allan Leighton, chairman of the Royal Mail and former Asda boss, is ready to take control of supermarket chain Sainsbury in the event of a takeover bid.
It is understood that Mr Leighton, who worked alongside Archie Norman to revitalise Asda during the 1990s – has been approached by the private equity consortium working on bid plans and has told them he is keen to work with them.
His final decision is believed to hinge on what potential bid price they arrive at. He is unwilling to get involved if the price required to buy Sainsbury’s is more than 550p, as it would starve the supermarket chain of the investment funds he believes are necessary.
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