Sainsbury’s approach to Home Retail Group is rejected

Sainsbury's has made an approach for Argos owner Home Retail Group, which has been rejected.
Sainsbury's has made an approach for Argos owner Home Retail Group, which has been rejected.
0
Have your say

Supermarket Sainsbury’s has confirmed it made an approach for Argos owner Home Retail Group, which has been rejected.

Sainsbury’s said it is considering its position, adding that there can be no certainty that it will make a formal offer for the business, which also owns DIY chain Homebase.

But it said: “The board of Sainsbury’s believes the combination of Sainsbury’s and Home Retail Group is an attractive proposition for the customers and shareholders of both companies, establishing a platform for long-term value creation.”

Sainsbury’s did not disclose the details of its approach, but Home Retail Group has a stock market valuation of just over £1 billion.