Home Retail Group, which owns Argos and Homebase, has reported a 10 per cent dive in shares after rumours that Sainsbury’s was planning an acquisition of the group have stalled, while Sainsbury’s shares rose 2.7 per cent on Friday after the same news.
Sainsbury’s was given a deadline of 2 February to decide whether they would make a bid for the group, but with only days left to decide, it is understood talks have come to a halt because the two are struggling to agree on a price.
The Financial Times reported that while Home Retail is holding out for 170p a Read full story ›
Source: The Drum
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