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Fri August 22, 2014
Arthur T. Demoulas Submits Final Market Basket Bid
The bitter five-week standoff that has cost thousands of Market Basket workers their jobs and prompted a customer boycott may be drawing to a close.
Ousted Market Basket CEO Arthur T. Demoulas submitted a final offer to buy his family’s grocery chain on Friday. The details of the offer have not been made public.
A Market Basket representative says the board is scheduled to meet Sunday or early next week to discuss his final bid.
Earlier this month, the majority owners broke their silence, saying they had offered to sell the company to Arthur T. Demoulas after he was fired in June. They said the price was right, but the terms of his offer were not.