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LONDON MARKET CLOSE: FTSE 100 Rally Ends But Posts Weekly Gains

UK's Sainsbury's offers 1.4 bln stg for Argos-owner Home Retail

LONDON, March 18 (Reuters) - Sainsbury's, Britain's second biggest supermarket, on Friday made a formal 1.4 billion pounds ($2.03 billion) offer for Argos owner Home Retail , after a rival suitor withdrew from the process. Under British takeover rules both Sainsbury's and the South African

Sainsbury Launches Offer For Home Retail After Steinhoff Exits Race

UPDATE 1-South Africa's Steinhoff's $975 mln bid for Darty trumps Fnac

(Adds details) JOHANNESBURG, March 18 (Reuters) - South Africa's Steinhoff on Friday offered $975 million for Darty Plc, Europe's No.3 electrical goods retailer, trumping a competing takeover bid from a French retailer Fnac. In an all-cash deal, Steinhoff, through its French-based un

UPDATE 1-UK's Sainsbury's set to win Home Retail as Steinhoff withdraws

(Adds detail, context) LONDON, March 18 (Reuters) - Sainsbury's, Britain's second biggest supermarket, was given a clear run to buy Argos-owner Home Retail on Friday after rival suitor, the South African group Steinhoff International, withdrew from the process. Under British takeover

Steinhoff Exits Race For Home Retail By Opting For Darty Instead

South Africa's Steinhoff says won't bid for UK's Home Retail

LONDON, March 18 (Reuters) - South African group Steinhoff International said on Friday it did not intend to make an offer for Argos owner Home Retail, leaving the way clear for Sainsbury's, Britain's second biggest supermarket to buy the firm. Under British takeover rules both companies ha

Home Retail slumps as Steinhoff backs out, Sainsbury's ups bid

(ShareCast News) - Shares in Argos owner Home Retail Group tumbled in afternoon trade after Steinhoff International Holdings abandoned the chase in favour of a bid for Darty, clearing the path for Sainsbury's, which later upped its bid. "Steinhoff now confirms that it does not intend to make an offe

Friday newspaper round-up: Sainsbury's, Hinkley Point, Oil, GSK

(ShareCast News) - The new administrators of Libor are overhauling the way it is calculated, reducing its reliance on banker estimates in an attempt to restore faith in the scandal-hit rate. US markets operator Intercontinental Exchange took over administration of the London Interbank Offered Rate i

Friday preview: Berkeley's reports and Sainsbury's hits Argos deadline

(ShareCast News) - As well as the deadline for Sainsbury's to make a further bid to acquire Argos owner Home Retail, Friday also sees housebuilder Berkeley Group's full year interims amid the slowdown in the prime central London property market. The City expects the Berkeley to report a drop in earn

Sainsbury And Steinhoff Agree To Amendments On Home Retail Deadline

Nomura cuts Sainsbury's target price ahead of Argos bid deadline

(ShareCast News) - Nomura has cut its price target on Sainsbury's ahead of Friday's bid deadline for Argos owner Home Retail, after an uneventful trading update. With the grocer's shares having risen to 280p, Nomura calculated that around 50p of that was from the value-creating potential of the Argo

UPDATE 2-Sainsbury's has best quarter in over two years ahead of Argos deadline

* Reports first sales growth in nine quarters * Takeover Panel deadline for Argos bid is Friday * Both Sainsbury's and Steinhoff pursuing Argos * Home Retail shares indicate higher bids expected * Sainsbury's shares down 0.2 pct (Adds detail, CEO, analyst comment, shares

UK's Sainsbury's reports first quarterly sales growth in 2 years

LONDON, March 15 (Reuters) - Sainsbury's, Britain's second biggest supermarket, on Tuesday beat expectations with its first quarterly underlying sales growth in over two years, potentially helping its takeover approach for Argos-owner Home Retail. The firm, which is embroiled in a two-way b

Sunday newspaper round-up: Budget, Sainsbury's, Virgin Media, Reuters

(ShareCast News) - George Osborne look to grab as much as £20bn to fill shortfalls in his Budget this Wednesday, making deep cuts in public spending, an increased insurance premium tax and other new or increased duties and taxes, while also looking to cut taxes for North Sea oil producers. The Sunda