NEWS

Sainsbury’s makes unsuccessful bid approach for Argos owner

Published on: 6th January 2016

Sainsbury’s made an unsuccessful bid for Argos and Homebase owner Home Retail Group in November, it has been revealed.

Argos480

Home Retail Group released a statement about the move by Sainsbury’s, which stated: “Having reviewed the approach with its advisers, the board of Home Retail Group rejected the approach, which undervalued Home Retail Group and its long-term prospects.”

Sainsbury’s has until 2nd February to decide whether it will return with a fresh bid and was said to be “considering its position”.

Sainsbury’s claimed that buying Home Retail Group would see an upsurge in sales growth and improve delivery networks.

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