Home Retail Plans to Recommend Sainsbury’s Offer to Shareholders
April 1, 2016 8:01 am
The board of Home Retail Group Plc plans to recommend the takeover offer of J Sainsbury Plc to shareholders after Steinhoff International Holdings NV, a South African retailer, pulled out from the battle to acquire the Argos owner.
Sainsbury’s cash and shares offer, which values Home Retail at approximately 1.4 billion pounds ($2 billion), represents a premium of about 74% to the company’s closing price on Jan. 4, the day before its approach became public.
The material has been provided by InstaForex Company – www.instaforex.com
The board of Home Retail Group Plc plans to recommend the takeover offer of J Sainsbury Plc to shareholders after Steinhoff International Holdings NV, a South African retailer, pulled out from the battle to acquire the Argos owner.
Sainsbury’s cash and shares offer, which values Home Retail at approximately 1.4 billion pounds ($2 billion), represents a premium of about 74% to the company’s closing price on Jan. 4, the day before its approach became public.
The material has been provided by InstaForex Company – www.instaforex.com
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