No Market Basket Deal After Sunday Company Meeting Cancelled
BOSTON (CBS) – Despite indications a deal would be completed by Sunday, there is still no final agreement to sell Market Basket to ousted CEO Arthur T. Demoulas.
A meeting of the of the Board of Directors had been scheduled for Sunday night, but it was cancelled without explanation. The board had been scheduled to discuss Demoulas’ final offer to buy the company for $1.5 billion.
The company stalemate began more than a month ago when its workers walked off the job protesting the ouster of Demoulas. Since then, the stores have remained open but have gone most unstocked with few customers visiting stores.
There is no word on when or if an agreement will be reached.
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