23rd Nov 2015 06:56
LONDON (Alliance News) - A number of private equity firms are considering making GBP1.0 billion takeover bids for Home Retail Group PLC, the owner of catalogue retailer Argos and DIY and garden centre chain Homebase, The Sunday Times reported.
Several retail industry figures have been asked to advise on potential bids for the company in the wake of the profit warning that Home Retail issued in October, which it blamed on uncertainty around Black Friday promotions.
Investment banking sources said the company may look attractive to bidders given the sharp fall in its share price during 2015, combined with a robust cash position and a large customer loan book.
http://www.thesundaytimes.co.uk/sto/business/Companies/article1635764.ece
By Sam Unsted; [email protected]; @SamUAtAlliance
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