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The Boston Globe reported yesterday that "Arthur T. Demoulas's offer to buy the Market Basket grocery chain is the only bid left on the table, and both sides of the family are furiously negotiating to complete a sale and end the daily losses crippling the company, according to people familiar with the matter."

However, Market Basket's board of directors disputes the report, "saying the board has 'several' alternatives, and suggesting Arthur T. Demoulas is partially to blame for the turmoil at the company."

The board statement said, in part:

"As the Board has previously noted, it is currently engaged in a rigorous and active process to consider strategic alternatives for the Company, including its possible sale. Despite reports to the contrary, Arthur T. Demoulas is but one of several potential buyers for the Company who continue to express a strong interest in purchasing the Company. While Mr. Demoulas’ offer provides a path toward solving many of the problems he has helped to create, it is but one alternative among the options the Board is reviewing. The Board will continue to evaluate all of the alternatives and ultimately make its recommendation to shareholders. However, the Board has no authority or right to force shareholders to accept an offer as that decision rests solely with the Company’s shareholders.”

(In case you've forgotten … The longtime family feud boiled over with the move by Arthur S. Demoulas, to oust CEO Arthur T. Demoulas, his cousin, due to a conflict over the company’s finances. The fight is characterized differently by the two sides. The Arthur S. Demoulas faction argues that Arthur T. Demoulas spends money irresponsibly and refuses to take direction from the board. The Arthur T. Demoulas side maintains that his cousin is fueled by greed, only interested in raising prices, cutting employee compensation, and threatening the formula that has built the company to a New England success story. To be fair, though, this is a battle that goes back decades, and that is beginning to resemble the Hatfields and the McCoys .. except in this case, the townsfolk - meaning the vast majority of employees - have sided with Arthur T., responding with protests and systematic slowdowns of shipments to the company's stores, which have left many of the units almost empty of both food and customers.)
KC's View:
I'm not sure how Arthur T. Demoulas can be blamed for all the current problems, since the whole thing got rolling when the board fired him. Then again, the board has seemed tone deaf and clueless almost since the beginning, so I'm sure it would believe almost anything.

I'm also sure it would say almost anything to avoid having to sell the company to Arthur T.