Business & Tech
Reports: Market Basket Decision Imminent
Massachusetts and New Hampshire governors say they are optimistic an agreement will be reached to sell the chain to Arthur T. Demoulas.
By Liz Taurasi
As Arthur T. Demoulas submitted his final bid Friday afternoon to purchase the remaining shares of the Market Basket supermarket chain, both Massachusetts Governor Deval Patrick and New Hampshire Governor Maggie Hassan say they are optimistic an agreement to sell the company to Arthur T. will be reached and he could be restored to operating authority on an interim basis until the deal closes.
“Subject to reducing their agreement in principle to writing by Sunday, the Board will forestall taking adverse employment action against the employees who have abandoned their jobs,” Hassan and Patrick said in the statement. “We are hopeful that employees will return to work, and the stores will reopen, early next week.”
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The Boston Globe is reporting Arthur T. has submitted his final offer to purchase the supermarket chain. Demoulas was ousted in June when a majority of the company’s board shifted in support of Arthur T.’s cousin and rival, Arthur S. Demoulas.
The Globe is also reporting Market Basket’s board of directors has postponed a scheduled Saturday meeting.
Find out what's happening in Beverlyfor free with the latest updates from Patch.
More of Patch’s Ongoing Market Basket Coverage:
- Market Basket Decision May Not Come Friday
- Could Market Basket Decision Come by Week’s End?
- Market Basket CEOs Tell Employees Return to Work or Be Replaced
- Market Basket Workers Reject Orders to Take Down Boycott Signs
- Arthur T.’s Bid to Buy Market Basket Only One on the Table
- Market Basket Board to Meet Monday Night
- Market Basket Board Confirms Arthur T. Offer, Reaffirms Choices
- Overnight Market Basket Workers Sue Company
- LIVE UPDATES: Market Basket Employees Rally Friday, Board of Directors to Also Meet
- Market Basket Workers Plan Largest Rally Yet for Friday
- Arthur T. Demoulas Makes Offer to Buy Market Basket
- Arthur T. Demoulas Issues Statement, Urges Fired Market Basket Employees Be Reinstated
- If You’re Boycotting Market Basket, Where are You Shopping Now?
- Are Politicians Overstepping in Support of Market Basket Boycott?
- Elected Officials Statewide Pledge Support for Market Basket Boycott
- Despite Firings, Market Basket Employees Continue Fight
- LIVE UPDATES: Market Basket Employees Rally Again Monday
- Market Basket Warehouse Supervisor Fired, 7 More Terminated
- Stores Feel the Pinch, Legislators Chime in as Market Basket Employees Stand Together to Bring Back Ousted CEO Arthur T.
- PHOTOS: Market Basket Employees, Customers Rally in Support of Arthur T.
- Live Updates: Market Basket Employees, Vendors, Customers to Rally Today in Support of Arthur T.
- Market Basket HQ Workers Won’t Show Up for Work Friday in Tewksbury, Plan Rally
- Market Basket Deadline Passes, Employees Who Walk Out Will Be Replaced
- As Market Basket Deadline Approaches for Artie T., ‘All is Quiet’ from Tewksbury HQ
- Market Basket Board to Meet Monday Night
- Market Basket Board Confirms Arthur T. Offer, Reaffirms Choices
- Overnight Market Basket Workers Sue Company
- LIVE UPDATES: Market Basket Employees Rally Friday, Board of Directors to Also Meet
- Market Basket Workers Plan Largest Rally Yet for Friday
- Arthur T. Demoulas Makes Offer to Buy Market Basket
- Arthur T. Demoulas Issues Statement, Urges Fired Market Basket Employees Be Reinstated
- If You’re Boycotting Market Basket, Where are You Shopping Now?
- Are Politicians Overstepping in Support of Market Basket Boycott?
- Elected Officials Statewide Pledge Support for Market Basket Boycott
- Despite Firings, Market Basket Employees Continue Fight
- LIVE UPDATES: Market Basket Employees Rally Again Monday
- Market Basket Warehouse Supervisor Fired, 7 More Terminated
- Stores Feel the Pinch, Legislators Chime in as Market Basket Employees Stand Together to Bring Back Ousted CEO Arthur T.
- PHOTOS: Market Basket Employees, Customers Rally in Support of Arthur T.
- Live Updates: Market Basket Employees, Vendors, Customers to Rally Today in Support of Arthur T.
- Market Basket HQ Workers Won’t Show Up for Work Friday in Tewksbury, Plan Rally
- Market Basket Deadline Passes, Employees Who Walk Out Will Be Replaced
- As Market Basket Deadline Approaches for Artie T., ‘All is Quiet’ from Tewksbury HQ
(Photo: Market Basket customers rally in Tewksbury on Aug. 16. Photo Credit: Christa Lamb of North Andover)
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