NEWS

Watchdog gives Sainsbury’s the go ahead for Argos takeover

Published on: 22nd July 2016

The proposed acquisition has been given the nod by the Competition and Markets Authority (CMA).

sains480The CMA claimed that it will not be referring the deal for any further investigation. A statement from the body said: “The CMA has decided, on the information currently available to it, not to refer the following merger to the Phase 2 investigation under the provisions of the Enterprise Act 2002.”

J Sainsbury agreed a cash and shares deal, then worth £1.4bn, for the Home Retail Group in April.

Sainsbury’s chief executive, Mike Coupe, commented: “We remain absolutely convinced by the strategic rationale of the deal, and we think it will strengthen our business. We remain committed to making the deal happen.”

The company has also reaffirmed its intentions to purchase the Home Retail Group, despite economic uncertainty after the Brexit result.

RECENT ARTICLES

Friday Blog

Supply and demand… it’s the Friday Blog!

Toytown set to open largest store yet at Intu Merry Hill

Spin Master reports strong Q1 sales growth

T-Racers from Magic Box in pole position for success

Exclusive: Letter from America – licensing for indies

Tonies announces pop-up at Harrods department store

Exclusive: The kids are alright – KidsKnowBest

Eaglemoss enters Advent Calendars market with licensed range

PlayMonster welcomes Hollie Holmes as global head of Licensing

Could container challenges remain to the end of the year?