The supermarket was set to buy the Argos owner until South African company Steinhoff International tabled a surprise offerSainsbury’s has been given until 18 March to consider whether it will return with a new tender for domestic Retail Group,the owner of Argos, after its takeover attempt was gatecrashed by South Africa’s Steinhoff International.
The supermarket sought an extension of the so-called “put up or shut up” deadline, or previously set by City regulators for Tuesday 23 February,after Steinhoff tabled a surprise tender for domestic Retail late on Friday.
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Source: theguardian.com