27th May 2016 14:13
LONDON (Alliance News) - The UK's Competition & Markets Authority said Friday it is considering whether or not J Sainsbury PLC's takeover of Home Retail Group PLC will result in a substantial lessening of competition within any market or markets for goods and services.
The CMA has invited comments on the deal, with a deadline set for June 13.
Sainsbury's agreed in April a GBP1.2 billion deal to buy Home Retail, which consists of the Argos catalogue store chain following the sale of Home Retail's Homebase DIY business. The takeover is expected to take place in the third quarter of 2016.
Shares in Home Retail were up 0.4% at 167.10 pence Friday, whilst Sainsbury's was up 0.5% at 268.80 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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Related Shares:
Sainsbury'sHome Reit