Decision to be made in coming weeks.

The Woolworths’ Masters portfolio has received another offer from a syndicate of investors, who are now competing with private equity firm, Blackstone Group, who has also submitted an offer.

The identity of the investors within the group remains unknown, although entrepreneur Brett Blundy has been linked, according to an article in The Australian.

Masters Home Improvement

Furthermore, Home Timber and Hardware bidder, Metcash, will now compete with private equity firm, Anchorage Capital Partners, who were behind the float of Dick Smith, the article said.

It is understood that Woolworths may have advanced to the preferred bidder phase, despite the buyer yet to be determined.

Final offers from the above contenders has been extended until August 25, when Woolworths is due to publish its annual results. However, the supermarket chain is expected to reveal the decision prior to maintain the focus on its turnaround strategy.