Sainsbury's Combining with Home Retail

Monday 15 February 2016

Sainsbury’s has agreed terms to buy Home Retail Group, the owner of Argos, in a £1.3bn deal which will create a combined food and non-food retailer that can take on Amazon and John Lewis.

Home Retail said its board had decided to recommend the potential offer to shareholders once details are agreed and both sides complete due diligence by examining each other’s books. Home Retail shareholders will own about 12% of the combined company if the deal is completed – a process likely to take at least three months.

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