domestic Retail ends months of speculation and says it will advise shareholders to support supermarket chain’s offerHome Retail Group has backed Sainsbury’s £1.4bn takeover bid,ending nearly five months of talks between the supermarket group and the owner of Argos to form a food and general merchandise retailer.
The terms of the deal remain unchanged from the offer Sainsbury’s made two weeks ago after Steinhoff of South Africa pulled out of the running. At the time, domestic Retail said it would work towards recommending an offer to its shareholders.
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Source: theguardian.com