Home Retail shareholder now views 161.3p deal as fair, despite previously saying the offer would have to start at 2oop
Sainsbury’s £1.3bn takeover of Home Retail Group has won the backing of one of the Argos owner’s biggest and most outspoken shareholders – despite coming in well below the level it expected.
Old Mutual, Home Retail’s third largest investor with a 3.6% stake, issued a statement to the stock exchange saying it viewed the terms of Sainsbury’s 161.3p a share deal put forward on Tuesday as “fair, reflective of the future potential of the Argos business and the risk still associated with the transformation plan.”
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