Boards back Sainsbury’s bid for Home Retail Group

The acquisition of Argos-owning Home Retail Group by Sainsbury's will be unanimously recommended by the HRG Group Directors, it has been confirmed. The purchase must now gain approval from HRG shareholders.

The Boards of Home Retail Group (HRG) and Sainsbury’s have announced that the HRG Group Directors intend to unanimously to recommend Sainsbury’s acquisition plan. Sainsbury’s announced the agreement on Friday (1 April).

The acquisition will be subject to the approval of the HRG shareholders.

As previously reported, Sainsbury’s is particularly interested in acquiring the delivery capability of HRG’s Argos network.