HRG and Sainsbury’s Boards approve acquisition plan
The Boards of Home Retail Group (HRG) and Sainsbury’s have announced that the HRG Group Directors intend to unanimously to recommend Sainsbury’s acquisition plan.
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“Sainsbury’s and Argos tie-up can create an Amazon rival, but BHS falls short”
Delivery specialist Fastlane International believes that the merger of Sainsbury’s and Argos will create a “powerful retail force” that will “combine multi-channel sales with class leading delivery options”.
Read MoreSainsbury’s makes firm bid for Home Retail Group
Sainsbury’s issued a firm offer for the Home Retail Group (HRG) on Friday (18 March) and, following South Africa-based Steinhoff’s announcement that it was withdrawing its interest, the supermarket chain looks likely to seal the deal for around £1.4bn.
Read MoreSteinhoff 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.
Read MoreSteinhoff does it again
South African retailer Steinhoff has submitted an unsolicited $924m bid for the French electronic retailer Darty – which will be the second time in less than a month that it has gate crashed a major acquisition in the European retail sector.
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