7th Jan 2016 06:49
LONDON (Alliance News) - The former chief executive of Tesco PLC is understood to be considering leading a potential takeover offer for Home Retail Group PLC to rival the interest in the business shown by J Sainsbury PLC, The Times reported.
Terry Leahy, who stepped down from the helm of Tesco in 2011 having led its transformation into one of the biggest retailers in the world, is thought to be working with private equity investor Clayton, Dubilier & Rice, to which he is a consultant, on a bid for the owner of Argos and Homebase.
The Times said Leahy is believed to have "run the numbers" over Home Retail late last year, though it remains unclear whether or not he and the private equity firm will enter the race.
Home Retail shares shot higher on Tuesday after Sainsbury's, the grocer, said it had made an unsolicited offer for Home Retail in November that was rejected. It said it was considering its position and is widely expected to come back with another offer.
http://www.thetimes.co.uk/tto/business/industries/retailing/article4658543.ece
By Sam Unsted; [email protected]; @SamUAtAlliance
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