Blackstone & TPG Leave Sainsbury Group

Blackstone Group and TPG have dropped out of the auction for British supermarket chain J Sainsbury PLC, according to Bloomberg. KKR had left last week, citing a conflict with its interest in Alliance Boots. The only remaining consortium member is CVC. J Sainsbury last week rejected the group's initial 562 pence per share bid, saying it was too low. www.j-sainsbury.co.uk