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Artie T. deal to buy Market Basket said in the works

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SOME GOOD SIGNS: Posters in support of ousted CEO Arthur T. Demoulas adorn windows at the Rochester store on Thursday. (Lebanon Voice/Harrison Thorp photo)

ROCHESTER - Massachusetts and New Hampshire governors as well as sources close to negotiations on Friday said a deal is imminent for ousted CEO Arthur T. Demoulas to buy the company and take over the reins while the sale is completed, but the Rochester store’s director said today they won’t begin celebrating until he personally gets the call from Artie T. to go back to work.

“We feel good, but until we hear definitely, till I hear from him personally, we stay where we are,” Rochester store director Chris Sturzo told The Lebanon Voice this morning around 9 a.m.

The statement released by Massachusetts Gov. Deval Patrick and New Hampshire Gov. Maggie Hassan said it is hoped a written agreement based on a deal reached between the parties can be worked out by Sunday.

In the meantime, punitive actions against store workers who walked off their job more than five weeks ago will be suspended.

Arthur T. called on the agreement in principle to be made effective immediately.

The 71-chain store has been losing millions of dollars a day in revenue as well as market share and brand image as customers have continued their boycotts, while many store vendors have terminated contracts due to strained relationships with the current executive regime during the standoff.

Market Basket's board of directors did not comment on Friday’s breakthrough reports.

A board meeting set for today to discuss bids for the company was postponed.

Sturzo said while he’s waiting for definitive word from Arthur T. that the deal has been done, his workers are nonetheless “excited” with the news that came out on Friday.

“We’re waiting for the call,” he said.

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