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03

Home Retail to Urge Approval of $2 Billion Takeover by J Sainsbury

By Tony Seruga

Home Retail is the British owner of Argos, which sells electronics, housewares and other products.CreditLuke Macgregor/Reuters

LONDON — Home Retail Group said on Friday that its board of directors would recommend that shareholders accept a takeover offer from J Sainsbury, one of Britain’s largest grocery store chains.

The cash-and-stock deal values Home Retail at 1.4 billion pounds, or about $2 billion. As part of the deal, shareholders would receive about £200 million from the previously approved sale of Homebase, a British home improvement chain, to Wesfarmers Limited of Australia…

Home Retail to Urge Approval of $2 Billion Takeover by J Sainsbury

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