1. News
April 3, 2016

Sainsbury’s to acquire Home Retail Group for £1.4bn

UK-based Sainsbury's has agreed to acquire Home Retail Group for £1.4bn after five months of talks.

UK-based Sainsbury’s has agreed to acquire Home Retail Group for £1.4bn after five months of talks.

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The terms and conditions of the deal will be the same as those offered by Sainsbury’s two weeks ago,when Steinhoff of South Africa stepped out of the acquisition race.

Home Retail had then stated that it would recommend Sainsbury’s offer to its shareholders.

As per the terms, Sainsbury’s will be pay 55p in cash and 0.321 of its own shares for each share of Home Retail, which would value the Argos owner at £1.2bn.

"The combined business will offer a multi-product, multichannel proposition, with fast delivery networks."

Shareholders of Home Retail will also receive 25p a share from the £200m sale of its Homebase chain, as well as 2.8p a share in lieu of a final dividend for the fiscal year, ending in March.

All these payments together take the value of the acquisition to £1.4bn.

Sainsbury’s chairman David Tyler as quoted by The Guardian as saying: "We are very pleased the board of Home Retail has recommended our offer for the acquisition of its business to its shareholders.

"The combined business will offer a multi-product, multichannel proposition, with fast delivery networks, which we believe will be very attractive to customers and which will create value to both sets of shareholders."

Home Retail chairman John Coombe was quoted by the publication as saying: "Argos is both an icon of the British high street and also a leader in the digital transformation of UK retailing.

"We are pleased that Sainsbury’s has recognised our progress and our potential with its recommended acquisition of Home Retail Group."

Sainsbury’s intends to open Argos stores in its larger outlets to offer more products to customers.

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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:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.