Sainsbury’s has made a bid of close to GBP1.4bn for Argos owner Home Retail Group as it looks to create a “leading food and non-food retailer of choice for
customers”. The GBP1.4bn cash and shares deal is an increase on the £1.2bn offer Sainsbury’s originally made, and had turned down, in November last year but which was
only revealed in January. It then upped the offer to £1.3bn but was outbid by Steinhoff, with the two retailers given until 5pm Friday to put in a final offer.
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