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
Luxury kennels and cattery with professional grooming parlour (licensed for 142 dogs and 26 cats) in Peterborough for Sale. An opportunity to acquire this luxury kennels and cattery with stunning spacious four bedroom detached residence which must be...
LEASEHOLD
The business has been established for a number of years and has been owned and operated by the founder since that date. Offers invited.
FREEHOLD
Situated in the heart of Ilkley town centre just off the busy Brook Street. The yard is a stylish bar offering a wide range of drinks, good, quality food, music with varied DJ’s and live artists all encompassed in an interesting layout. Offers invite...
FREEHOLD
|
22
|
|
Mar
|
Scunthorpe nightclub up for sale | BUSINESS SALE
A former nightclub based in Scunthorpe has been put up for s...
|
21
|
|
Mar
|
Kent Logistics provider completes a successful acquisition | BUSINESS SALE
A Kent-based personalised logistics provider, backed by Livi...
|
20
|
|
Mar
|
Warrington construction company enters administration | ADMINISTRATION
A prominent construction business headquartered in Orford Gr...
Sign up to receive our acquisition alert emails to get your FREE guide
|
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...
|
14
|
|
Jan
|
Homebase to be purchased by Wesfarmers | DIVISION SALE
Home Retail Group is nearing a sale of its DIY chain to Wesf...
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