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Sainsbury Buys Home Retail Group For £1.4 Billion

April 1, 2016: 12:00 AM EST
Sainsbury agreed to acquire Home Retail Group for £1.4 billion. In February 2016, South Africa-based Steinhoff International said it was considering a rival bid for Home Retail, parent company of catalog store Argos, but later withdrew. Home Retail’s weak revenue performance prevented it from demanding Sainsbury to pay more for the retailer.
Andrea Felsted et al, "Sainsbury Skips The Sweetener", Bloomberg Gadfly, April 01, 2016, © Bloomberg L.P.
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