Sainsbury’s is attempting to quell a possible rebellion over its planned takeover of Nisa with a proposal that shopkeepers can remain independent after the deal.

Members will choose to either remain fully independent and have an enhanced range of own-brand food products or the ability to stock Sainsbury’s own brand if they can demonstrate high store standards (The Telegraph). Sainsbury’s is exploring potential sweeteners in a bid to fend off a rebellion against its takeover of Nisa, writes The Daily Mail. The grocer is also considering giving members staggered payments over three years and offering them the opportunity to stock Sainsbury’s own brands so they will have more buying power (The Daily Mail).

Rebel shopkeepers are raising money to fight the attempted takeover by Sainsbury’s of their corner-shop mutual, writes The Times. One prominent London member said he was asking shopkeepers to contribute £400 each to fund legal action against the board, led by chief executive Nick Read. “We’re fighting. Nick Read is selling us cheap,” he said. (The Times £). The £130m bid by Sainsbury’s has divided the Nisa membership. Some see the merits of combining with a bigger rival to gain greater buying power at a time of uncertainty. Others are viscerally opposed to selling — despite the prospect of payouts of up to £625,000. Many are determined to vote down the deal. (The Times £)

Tesco and Sainsbury’s set to own a quarter of all convenience stores, putting many independent shopkeepers at risk.(The Daily Mail)

Some of the papers carry news of the $1.8bn Holland & Barrett sale us Russian investment fund L1 Retail before it was announced this morning. News of L1 Retail’s swoop comes a few days after reports that AS Watson Group, which is based in Hong Kong and owns Superdrug, was plotting a £1 billion bid for Holland & Barrett (The Times £). US buyout group KKR, private equity firm Sycamore Partners and Hong Kong’s AS Watson, which owns UK health and beauty retailer Superdrug, were reportedly interested in purchasing the chain (The Financial Times £).

A $20bn New York hedge fund is using an offshore shell company to anonymously bet against the shares of the UK supermarket Tesco, raising fresh questions over the efficacy of European short selling disclosure rules. Tiger Global, one of the world’s largest hedge funds, has made use of a Cayman Islands-registered vehicle called Delores Holdings Ltd to make a short bet against close to £100m of Tesco shares, according to people familiar with the situation. (The Financial Times £)

The beleaguered Co-operative Bank is closing in on a £700m rescue deal with US hedge funds amid ongoing talks about the separation of the vast pension scheme it shares with the Co-op Group. The Co-op Bank is expected to announce to the stock market on Monday morning that it is on the verge of finalising an agreement that would end months of uncertainty about its future. (Sky News)

Nestlé has become the latest target of US activist investor Daniel Loeb, who says the world’s largest food and drinks company is “stuck in its old ways” and needs a shake-up. Loeb’s hedge fund Third Point has taken an investment position of roughly 40m shares, or 1.3 per cent, in the company, and has begun “productive conversations” with management, the US-based fund said. (The Financial Times £)

The Guardian looks at why Brexit will be a watershed for the UK’s food and farming industry. Leaving the EU is a chance to reform the biggest sector of Britain’s economy. But is Michael Gove up to the job, or will he be hamstrung by free-market dogma, it asks? (The Guardian)

Cocoa, coffee and sugar have plunged in value thanks to robot traders spurred into action by the falling oil price. The sell-off has seen cocoa crash 10 per cent in a week – close to a ten-year low – while sugar is at its lowest price for 16 months and coffee has not been cheaper since May 2016. (The Daily Mail)

Move by UK supermarkets threatens to bring Fairtrade crashing down, writes The Guardian. Tesco is to join Sainsbury’s in changing the branding of some ‘fairly traded’ products rather than use the globally known Fairtrade mark for their produce. (The Guardian)

Amazon’s acquisition of Whole Foods Market ought to be blocked by monopoly regulators, but as long as they keep delivering the goods no one seems to mind, writes The Guardian. “By any common-sense yardstick, therefore, Amazon wields monopoly power and its activities should trigger action by regulators. The problem is that US antitrust law has long parted company with common sense”. (The Guardian)

Lord Wolfson, chief executive of Next, has warned that failing to secure a “smooth” departure from the EU could result in “years of economic decline” for the UK. The retail boss, who voted in favour of Brexit, said he still believed it would boost trade and the British economy. But he also warned that it could cause high unemployment if managed badly. (The BBC)

Unilever is threatening to pull marketing spending from Facebook and Google unless the tech giants provide more disclosure on how online adverts perform. (The Times £)

Yoyo Wallet, the fast-growing British mobile payments app, has raised £12m from investors including the German retailer Metro Group and fund manager Neil Woodford to finance its expansion in Europe and the US. (The Financial Times £)

Pret a Manger has been forced to replace its auditor KPMG in the strongest signal yet that the sandwich chain is gearing up for an autumn stockmarket float in America. (The Telegraph)

“Carrefour at a crossroads as new CEO faces same old problems”, writes The FT. Alexandre Bompard must address French retailer’s persistent structural issues. Critics say Carrefour is too reliant on a business model developed in the 1960s and has been slow to embrace ecommerce. (The Financial Times £)

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