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.
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