Sainsbury’s given deadline extension for Home Retail bid
Sainsbury’s has been given more time to raise its offer for Home Retail Group – the owner of Argos – after the South Africa-based Steinhoff trumped its provisional bid on Friday.
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HRG shares jump on back of Steinhoff offer
Shares in Home Retail Group (HRG), the owner of retailer Argos, jumped 12% today (22 February) on the back of the news that South Africa’s Steinhoff had thrown its hat in the ring on Friday with a $1.4bn bid to trump Sainsbury’s $1.35bn offer.
Read MoreSainsbury’s moving closer to Home Retail Group deal
The Boards of Sainsbury’s and Home Retail Group announced this morning that they have reached agreement on the “key financial terms of a possible offer for Home Retail Group by Sainsbury’s”.
Read MoreSainsbury’s biggest investor – Qatar Investment Authority – reportedly “warming” to Home Retail Group deal
Sainsbury’s largest investor, the Qatar Investment Authority (QIA), is “warming” to the idea of the UK-based supermarket’s proposed bid for the Home Retail Group, according to reports in the UK press.
Read MoreHome Retail Group sells Homebase to Wesfarmers
Home Retail Group has sold its Homebase chain of DIY stores to Australia-based Wesfarmers for £340m.
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