The retailer was set to buy the Argos owner until South African company Steinhoff International tabled a surprise offer
Sainsbury’s has been given until 18 March to consider whether it will return with a new bid for Home Retail Group, the owner of Argos, after its takeover attempt was gatecrashed by South Africa’s Steinhoff International.
The supermarket sought an extension of the so-called “put up or shut up” deadline, previously set by City regulators for Tuesday 22 February, after Steinhoff tabled a surprise bid for Home Retail late on Friday.
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