1. News
May 30, 2016

Competition and Markets Authority to investigate Sainsbury’s takeover of Home Retail Group

The UK's Competition and Markets Authority (CMA) is planning to investigate Sainsbury's £1.4bn acquisition of Home Retail Group, the parent company of Argos.

The UK’s Competition and Markets Authority (CMA) is planning to investigate Sainsbury’s £1.4bn acquisition of Home Retail Group, the parent company of Argos.

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The authority aims to evaluate how the deal will impact consumers until 13 June, after which it will decide if it has to launch a preliminary probe by 25 July, reported The Guardian.

In April, Home Retail Group supported the acquisition bid from Sainsbury’s, thereby ending extensive negotiations between the two firms.

"The combination of both businesses will create a multi-product, multi-channel proposition with fast delivery networks."

With the acquisition, the supermarket chain plans to enhance its product range and reduce its dependence on groceries.

Sainsbury’s aims to house Argos outlets within its existing supermarkets to bolster offerings in homeware and other segments.

However, this move is expected to lead to the closure of almost 200 Argos outlets, reported Sky News.

The acquisition is expected to close in the third quarter of 2016, but could be delayed by CMA concerns.

Sainsbury’s was quoted by Sky News as saying: "We are pleased that the CMA review process into Sainsbury’s proposed offer to buy Home Retail Group is progressing.

"The combination of both businesses will create a multi-product, multi-channel proposition with fast delivery networks, benefiting customers by accelerating our strategy to give them what they want, where and when they want it.

"We look forward to the successful completion of the deal".

Argos currently operates 845 stores and has around 30,000 employees.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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