Come to life on bid spec from SBRY.
2517

StockMarketWire.com
Home Retail Group, the owner of Argos and Homebase, has confirmed it received and rejected an approach from Sainsbury's regarding a possible cash and share offer for the company.

Home Retail said the board rejected the approach as it undervalued the group and its long-term prospects.

http://www.bloomberg.com/gadfly/articles/2016-01-06/sainsbury-seeks-january-bargain-in-argos-catalog-takeover-bid

Bid offer from Sainsbury's will have to be 170 -180 or more now.

Rumours of a tie-up between Ocado and Amazon are sending shockwaves throughout the supermarket sector as an already highly competitive sector looks to become even more difficult to operate within. The two pronged attack on the big four, with low-cost German entrants (Lidl and Aldi) on one side, and one of the world’s biggest retailers on the other, will no doubt shrink the perceived market share of the likes of Tesco and Sainsbury’s.

bloomberg reported a couple of hours back that the parties were closing in on agreeing a price

market is indicating that this might be true as sp now 147.7 = +11p or 8% ...... mam chart is of course behind the curve as always

very happy that i topped up a couple of days ago :-)

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looks like the bears are starting to run for cover, as well they might

a nice little earner for early in the week
t/o terms equate to about 161p per share ...... won't make a huge profit but better than a poke in the eye for sure

bit of a swizz ...... didn't expect to see HOME back below 150

shall just sit on them for the moment

hence the chirpiness in the last couple of days ....

It has emerged that Sainsbury (Amsterdam: SJ6.AS - news) 's has competition in its bid to buy Argos-owner Home Retail Group.

It was announced by South African retailer Steinhoff, after financial markets had closed for the day in Europe, that it proposed an offer for Home Retail of 175p-per-share - valuing the company at £1.4bn.

That trumped the supermarket's planned bid of 161.3p-per-share, tabled two weeks ago, which valued Home Retail at £1.3bn - just above its current market value.