Home Retail Group sale could be delayed

Home Retail Group has issued a statement advising on the current situation and deadlines associated with a potential sale.

Sainsbury's and Steinhoff have until 5pm tomorrow to make a 'firm intention' of an offer or walk away from a Home Retail Group deal.  However, a statement was issued this morning, advising that an extension of 53 days would be granted should either party submit a new offer between 7:30am and 5pm, tomorrow.

Both parties have accepted the ruling.

Sainsbury's is currently offering a £1.3bn deal while Steinhoff has put forward an offer of £1.4bn.

See the full statement here.

Source : Insight DIY