Shares at HRG rocket following rival bid for Argos
Published: 22 February 2016
Home Retail Group's shares have jumped by 12% following Steinhoff International's
rival bid against Sainsbury's for Argos.
Interestingly, the value of HRG shares has now increased to 173p, just a shade from the 175p per share bid the South African conglomerate made for the HRG retailer. Sainsbury's offer, on the other hand, currently stands at 167p per share, equating to £1.35bn.
Sainsbury's has until tomorrow to make a firm offer on Argos, but industry experts expect the UK supermarket to ask for an extension in light of Steinhoff's offer.