Bid talks boost for Home Retail Group

ARGAIN hunters went shopping for shares in Argos and Homebase owner Home Retail yesterday as fresh talk about a possible bid from US retail giant Wal-Mart did the rounds.

Shares in the FTSE 250 stock ended the session 8¼p up at 174¾p as rumours about a potential 300p per share approach from the owner of the UK’s Asda resurfaced. Earlier this month Home Retail disappointed the market by blaming a sales slump on lower purchases of digital TVs and saying confidence was going back to credit-crunch levels. Shares in Home Retail fell more than 13 per cent to a 2½-year low after the update in which it said trading was more difficult and volatile than anticipated between March and May.

Source : Philip Waller - Express.co.uk
www.express.co.uk/posts/view/252751/Bid-talk-boost-for-Home-Retail