Steinhoff pulls out of race for Home Retail Group

Steinhoff pulls out of race for Home Retail Group

South African retail group Steinhoff has decided not to make a firm bid for Home Retail Group – which leaves Sainsbury on course to pursue its proposed £1.4bn take-over. The Home Retail Group owns the Argos chain.

Sainsbury’s, which is understood to be particularly interested in Argos’ strong home delivery network, has until 17:00 GMT today to submit its firm bid.

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