Wed, 06 Jan 2016 | BUSINESS SALE
Sainsbury's has made known its bid approach, an “attractive proposition” to Home Retail Group for Argos and Homebase back in November.
The offer was rejected by Home Retail Group however, who said it “undervalued Home Retail Group and its long-term prospects”. Sainsbury's says it is now “considering its position”.
To abide by UK takeover rules, Sainsbury's would have to make a formal offer, should it decide to do so, by 2 February.
The supermarket group has been piloting Argos concessions inside some of its stores, with Sainsbury's saying the two groups have “complementary products”. In taking over Home Retail Group, Sainsbury's asserts that it would increase sales, improve its delivery service and create cross-selling opportunities.
Sainsbury's, which is the second biggest British supermarket in the UK with a 16.7 per cent slice of the grocery market, actually co-founded Homebase, selling it for £969 million to venture capitalist Schroder Ventures in December 2000.
Home Retail Group, which is presently worth about £1 billion, issued a profit warning in October, attributing the alert to the impact of Black Friday offers and having invested in its online ordering system. It has 1,051 stores across the UK, with a 47,000-strong workforce.
Search retail businesses for sale here
Supplies a wide range of high-quality IT parts and systems, as well as providing technical support and customer Engineer training. Benefits from a large customer base and an exceptional reputation.
The company supplies copper and fibre optic cable infrastructure systems and audio/visual products and services. Over its decades of operation, the company has established a number of strong relationships with prestigious clients operating across the...
Designs, installs, maintains and repairs air conditioning, heat pumps and ventilation systems for a wide range of commercial and domestic sectors.
17
|
Oct
|
Car parts maker bought by CorpAcq | BUSINESS SALE
Cheadle-based car parts manufacturer group Klarius has been ...
17
|
Oct
|
Funeral firm Farewill welcomes Dignity acquisition | BUSINESS SALE
Funeral specialist Farewill is being bought for £13 mi...
17
|
Oct
|
Blue Cube Travel in 'perfect' acquisition | BUSINESS SALE
London-based Blue Cube Travel has been bought by globetrotti...
17
|
Sep
|
Buyer or tenant sought for 350k sq ft Argos distribution centre | COMMERCIAL PROPERTY
A tenant or buyer is being sought for a 350,000 sq ft Argos ...
03
|
Feb
|
J Sainsbury's succeeds in buying Argos' owner | BUSINESS SALE
J Sainsbury's can celebrate now that it has secured Arg...
02
|
Feb
|
Sainsbury's puts forward £1.3bn offer for Argos owner | BUSINESS SALE
Sainsbury's has been circling the Home Retail Group, ow...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.