Retailers locked in last minute takeover talks as deadline looms, say reports.
National media reports over the weekend have suggested that Sainsbury’s and Argos are locked in last minute takeover talks, ahead of the deadline on Tuesday February 2.
The Telegraph reports that Sainsbury’s is understood to have put forward a deal of 150p per share, although Argos’ owner – Home Retail Group – is pushing for 170p per share.
It is believed that a middle ground of 160p per share could be enough to clinch the deal.
If the Sainsbury’s board can agree a price, they can secure an extension to the bid deadline.
Home Retail Group sold the Homebase business last month, however this has simplified negotiations for Sainsbury’s as it is mainly interested in putting click and collect Argos points into its stores.
