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The Boston Globe

Business

Pressure mounts on Market Basket board of directors

No decision on offer of buyout by Demoulas as chain’s losses increase

With a multibillion-dollar supermarket empire hanging in the balance, the Market Basket board of directors met Monday to again consider a buyout offer from Arthur T. Demoulas but agreed only to continue negotiating, according to a person briefed on the discussions.

Demoulas had previously set the end of Monday as the deadline for rival members of his family to respond to his offer to buy their half of the company. The board’s continued negotiations will keep Demoulas’s bid on the table for now, according to the person familiar with the discussions, but both sides are facing pressure to resolve the family feud that has paralyzed the 71-store chain and caused tens of millions of dollars in losses.

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