Home Retail Group receives takeover offer £111m higher than Sainsbury's

South African furniture retailer Steinhoff makes £1.42bn approach for Argos owner

Sainsbury’s faces a bidding war for Home Retail Group after the Argos owner said it had received a £1.42bn approach from South African furniture retailer Steinhoff.

Steinhoff, which owns Bensons for Beds and Harveys in the UK and Conforama in France, has made an approach about a possible offer for Home Retail Group worth 175p a share in cash - or about £111m more than Sainsbury’s £1.3bn offer.

Continue reading...

from Mergers and acquisitions | The Guardian http://ift.tt/1oPLsno