Troubled catering group Compass may receive a takeover bid before its new chief executive and chairman take up their posts. A number of private equity groups are thought to be preparing offers, including Texas Pacific Group. Chief executive Mike Bailey has agreed to step down from the company, but a replacement has yet to be found. Chairman-elect Sir Roy Garner may not be able to take up his position for a further nine months as he is still working as chief executive at Centrica and has been refused permission by the board to step down early. Meanwhile, the world's biggest contract caterer, which has issued three profits warnings in just over a year, has also suspended two senior executives pending an internal investigation into their relationship with UN procurement officials. The Sunday Telegraph 30/10/05 page 1 (Business) The Independent on Sunday (Business) 30/10/05 page 6 The Observer 30/10/05 page 3 (Business) The Times 30/10/05 page 2, page 5 (Business)