Mumbai, Feb. 15 -- Indulging in hard bargaining with its senior saffron ally over an alliance for the Lok Sabha polls, the ruling Shiv Sena on Thursday told its ally that it was prepared to have an electoral tie-up with the latter, provided the Amit Shah-led party agreed to accept the 1995 Assembly poll seat-sharing formula and offered the Chief Minister's post to it.

Seeking to have its pound of flesh in the proposed seat-sharing arrangement with the BJP for the Lok Sabha polls, the Shiv Sena formally linked the impending LS poll tie-up with the seat-sharing arrangements for the State Assembly polls which in the normal course are scheduled to be held in October this year.

Significantly enough, the Shiv Sena gave a 48-hour ultimatum to th...