One of the most notable deals in the public eye is currently pending with supermarket retailer J Sainsbury PLC looking to acquire leading UK home and general merchandise retailer, Home Retail Group PLC for £1.4 billion. Home Retail Group owns a number of well-known brands and is also the parent company to British catalogue retailer Argos. Sainsbury’s aims to “future-proof” its business through the acquisition. Chief executive Mike Coupe said the deal would allow consumers to shop “whenever and wherever” they wanted. “We can bake a bigger cake and do a better job for our customers than we can do as separate businesses,” he told the BBC.
Sainsbury’s made an offer worth 161.3p a share for Home Retail and the offer represents a 63% premium to Home Retail’s closing share price when the supermarket’s interest was revealed.
Another notable acquisition was that of Bolton Wanderers Football and Athletic Club Ltd for £7.5 million, by former player Dean Holdsworth along with his consortium, Sports Shield, in a joint venture with the Inner Circle Investment Group.
The new chief executive Holdsworth is quoted as saying that it ‘is an emotional decision because it means a lot to me’ and he was ‘seriously honoured to be chief executive’.
Other deals include the acquisition of Skyepharma PLC, by Vectura Group PLC for a massive £441 million, whilst Smart Metering Systems PLC purchased CH4 Gas Utility and Maintenance Services Ltd for £6.9 million.