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Rumour mill puts US diy chains top of bid list for Focus DIY

Published: 30 April 2007
North American retailers Home Depot and Lowes are believed to be likely bidders for troubled diy chain.
According to a report in the Sunday Telegraph, a deal for all of the UK retailer's 235 stores could be struck this Friday.

It is understood that, as well as the potential American bid, private equity group 3i wishes to take two thirds of the business while trade buyers are looking to acquire small chunks.

The founder and chairman of Focus is also understood to be heading a bid to buy back the chain.

In January, Focus called in investment bank N M Rothschild to carry out a strategic review of the group to help shed its £280m debt burden.

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