Market Basket standoff continues after meeting canceled
TEWKSBURY, Mass. (MyFoxBoston.com) -- The Market Basket standoff continues after a late Sunday night meeting was called off.
An e-mail from the governors of Massachusetts and New Hampshire said Sunday could have been the day for a deal. Just before 7 p.m., the board canceled a conference call because the deal between Arthur T. and Arthur S. was not ironed out.
A FOX 25 source says there is still progress being made and board members continue to work toward that end. In order to get a deal passed, shareholders have to agree before it can go to the board for the final okay.
On Saturday, Arthur T. made a surprise visit to the Chelmsford store and thanked employees and supporters for standing in his corner during the ordeal.
The former CEO has offered $1.5 billion to buy the controlling interest of the company owned by his rival cousin.