Supermarket makes Stock Exchange statement that it could waive pre-conditions relating to agreement from target’s boardSainsburys has clarified that it is able to proceed hostile in its bid for Argos-owner Home Retail Group,following a request from the Takeover Panel.
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. Related: Sainsbury's given 18 March deadline for unusual Home Retail bid Continue reading...
Source: theguardian.com