Supermarket firm makes Stock Exchange statement that it could waive pre-conditions relating to due diligence
Sainsbury’s has signalled it may go hostile in its bid for Argos-owner Home Retail Group.
The supermarket group had agreed a possible £1.4bn cash and share offer for Home Retail in February, but South Africa’s Steinhoff International then gatecrashed the deal with a £1.42bn bid of its own. Home Retail subsequently said it was reviewing the position and advised shareholders to take no action. Analysts said the Steinhoff bid could be more attractive to Home Retail investors because it was all cash.
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