Reports have been released today that suggest supermarket chain Sainsbury’s are considering making an offer for Home Retail, which includes the Argos and Homebase chains.
This could be perceived as a new attempt by Sainsbury’s to keep their head above water in a difficult sector; all of the Big Four UK supermarkets have been blighted by weak sales and high competition from discount stores such as Lidl and Aldi. Diversifying into areas other than food and groceries may well prove to be a good move for the Group.
Sainsbury’s have until the 2nd February to formally make the offer.
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Reports have come through that Sainsbury’s have had their offer for Home Retail rejected. Sainsbury’s shares are trading down 4 percent on the news.
05/01/2015
