Business & Tech
Decision On Arthur T. Bid May Come at Tuesday Night Board Meeting
The supermarket chain has scheduled a Tuesday night meeting.
By Liz Taurasi
Five days have passed since Arthur T. Demoulas made his final bid to purchase the remaining shares of the Market Basket supermarket chain, and still no decision has been made, but that may soon change.
Market Basket board members have scheduled a meeting for Tuesday night, which, according to the Boston Globe, could indicate a deal is about to be struck. A board meeting scheduled over the weekend was canceled. Reports say the meeting is set for 6 p.m.
Find out what's happening in Salemfor free with the latest updates from Patch.
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. Arthur T. is reported to have made a $1.5 billion bid for the remaining 50.5 percent shares of the company.
On Friday, both Massachusetts Governor Deval Patrick and New Hampshire Governor Maggie Hassan released a statement saying they were optimistic anagreement to sell the company to Arthur T. was imminent and he that he could be restored to operating authority on an interim basis until the deal closed.
Find out what's happening in Salemfor free with the latest updates from Patch.
The supermarket chain is said to be losing upwards of $10 million a day following a work stoppage at its warehouse. Employees are in their sixth week of rallying in support of their former CEO.
More of Patch’s Ongoing Market Basket Coverage:
- Reports: Market Basket Decision Imminent
- 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
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