Home / Retail / Sainsbury’s bids £1.3bn for Home Retail Group

Sainsbury’s bids £1.3bn for Home Retail Group

Following a failed approach last year, Sainsbury’s has bid £1.3bn, the equivalent of 161.3p a share, for ownership of the Home Retail Group.

BBC News reports that the offer represents a 63 per cent premium to Home Retail’s share price on January 4th.

The deal remains dependent on the sale of the Homebase chain that Australia’s Wesfarmers has agreed to buy for £340m.

Sainsbury’s is confident that shareholders in both Sainsbury’s and Home Retail will back the deal and the supermarket now has three weeks to carry out due diligence on Argos’ parent company.

About Robert Hutchins

Check Also

Disney Stores celebrate Aladdin UK release with Make-A-Wish partnership

Walt Disney Studios is celebrating the release of its live action adaptation of Aladdin in …