Home Retail accepts £1.2bn Sainsbury’s offer

Endaba Group

The board of Home retail has formally recommended a takeover offer from Sainsbury’s. The UK retailer behind the Argos chain were first approached by Sainsbury’s in November, and have valued the company at £1.2bn. Steinhoff, the South African retailer, were also interested in Home Retail; however they later decided to abandon their pursuit of the UK chain.