Thousands of Market Basket workers and supporters rallied outside of a Tewksbury store in July to demand that ousted CEO Arthur T. Demoulas be reinstated as the company's head. Credit: Nicolaus Czarnecki/Metro
Former Super Markets Inc. President Arthur T. Demoulas has reportedly made a $1.5 billion Market Basket bid after weeks of unrest due to his ousting from the company.
Bloomberg News reports that Demoulas, may announce a deal to buy the company as early as Sunday or Monday, citing an anonymous source with inside information about negotiations.
The offer values Tewksbury-based Market Basket at about $3 billion, the source said.
Thousands of employees have been protesting for weeks to get the ousted Demoulas reinstated after he was fired by the company's board, which is helmed by his cousin Arthur S. Demoulas.
The grocery chain operates 71 stores in Massachusetts, New Hampshire and Maine. The workers have been joined by supportive customers and stopped deliveries have led to some empty shelves at multiple stores.