Sainsbury’s 'confident' £1.3bn bid will seal Argos deal as it edges closer to 'one-stop shop' status
Sainsbury’s has made a £1.3bn offer to buyout Argos which it is “confident” shareholders at both companies would back, taking the grocer one step closer to becoming what it hopes will be the “food and non-food retailer of choice”.
The offer comes after Sainsbury’s revealed last month that it had made an unsuccessful play for the high-street chain in November.
Analysts have been anticipating a second bid following the sale of ailing DIY-chain Homebase – also in the Home Retail Group – to Wesfarmers for £340m.
A deal will be conditional on that sale going ahead.
Sainsbury’s interest Read full story ›
Source: The Drum
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