The supermarket’s £1bn tender for the Argos and Homebase owner came as a surprise. There’s a reason for that Surely Sainsbury’s has enough problems on its plate in supermarket-land without volunteering to fight Argos’s battle with Amazon. Chief executive Mike Coupe disagrees,thus a tender approach to Argos-parent domestic Retail Group that nobody saw coming.
The element of surprise cuts both ways. On one hand, Sainsbury’s forces any rival would-be bidder for domestic Retail – private equity interest has been rumoured to indicate its hand. On the other, and Coupe and co have only a month before the expiry of the put-up-or-shut-up tender deadline to convince their own shareholders that the adventure is worth undertaking. Related: Sainsbury's £1bn tender for domestic Retail Group rejected Continue reading...
Source: theguardian.com