Private equity firm Kohlberg Kravis Roberts & Co. has withdrawn from the CVC Capital-led group studying a takeover bid for UK supermarket chain J. Sainsbury, people familiar with the situation said on Thursday.
The firm, which is also in talks to buy pharmacy chain owner Alliance Boots, was worried about possible competition problems and the price being discussed by the group eyeing Sainsbury, the sources said.
The consortium and KKR declined to comment.