NEWS

Sainsbury’s given deadline to bid again for Argos owner Home Retail Group

Published on: 23rd February 2016

The retailer has until 18th March to decide whether it will come back with a fresh bid for Argos owner Home Retail Group.

Argos-480The supermarket chain was rocked by the emergence of a rival bidder – South African furniture firm Steinhoff International – which owns Bensons For Beds and Harveys in the UK.

Steinhoff offered £1.42bn, worth 175p a share, which eclipsed Sainsbury’s own bid of around £1.34bn.

Sainsbury’s faces pressure from shareholders not to pay over the odds for Argos and must now decide whether to bid again ahead of the put-up-or-shut-up deadline.

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