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Shares in supermarket chain J Sainsbury fell 4 per cent yesterday on the news that two more private equity groups pulled out of a consortium that made a formal offer for the grocer - leaving just one firm standing and throwing doubt on the success of any bid.
A source said that Blackstone Group International and TPG Capital had both pulled out of the consortium after its 562p offer was rejected by Sainsbury's on Friday as too low.
That leaves just CVC Capital Partners from the original consortium.
