Not Accepting My Return Offer, Going to a Competitor

Title is pretty self-explanatory. I expect to receive a return offer from my 10-week bank following good reviews throughout the whole summer and the office's very high offer rate. However, I intend to accept an offer from a competitor in the same city as it offers a better opportunity for me for a variety of reasons not worth getting into. Given that I have really enjoyed my 10-week and want to leave on good terms as I like the people in my group, what's the best way to approach the inevitable conversation that I won't be returning? Main priority is not burning any bridges. I'm going to have to accept the competitor's offer before my 10-week is over.

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