Homebase and Argos parent company's share prices increase over rumours that it has caught the eye of private equity firms.
Home Retail Group's shares shot to the top of the FTSE 250 leader board over rumours that private equity companies are buying up shares and that the Homebase and Argos apparent could be the target of a takeover bid.

A report in The Sunday Times suggested that several retail industry figures have been asked to advise on potential approaches for Home Retail Group, which it said could be worth £1bn.

Last month Home Retail Group issued a profit warning, blaming unpredictable trading during Black Friday and the key Christmas period.

Since that alert, its share prices slumped almost 18% but its stock rose more than 6%, or 6.6p, to 110.6p in early trading today.

It's not the first time rumours of a sale have surfaced but, as yet, they have come to nothing.