Homebase owner Home Retail Group’s shares climb as retail veteran signals possible takeover

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Shares in Homebase’s parent company Home Retail Group have soared as a veteran retail executive said he wanted to buy the struggling DIY chain.

Nicholas Marshall, who turned around the Garden Centre Group, selling it to Guy Hands for £276 million three years ago, said he had been eyeing up Homebase for a few years and was talking with private-equity houses about a takeover.

He told the Financial Times: “Undoubtedly something has got to happen. It can’t just sit there treading water.”

Today the shares jumped 8.2p to 111.1p, or 8%.

However, they remain at historically low levels.

It is the second time in just over a week there has been speculation Home Retail could be a takeover target, with private-equity firms said to be looking at the company’s other business Argos.

Homebase and Argos have looked vulnerable in recent months after the company issued a pre-emptive profit warning, complaining Christmas trading was too unpredictable due to Black Friday.

Source Article from http://www.standard.co.uk/business/homebase-owner-home-retail-groups-shares-climb-as-retail-veteran-signals-possible-takeover-a3127141.html

December 1, 2015 |
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