The Competition and Markets Authority has confirmed that it will not refer Sainsbury’s acquisition of Argos from Home Retail Group to an in-depth investigation following its initial consideration of the deal. This means that Sainsbury’s is planning to complete the deal early in September with its CFO John Rogers to move across and into the role of CEO of Home Retail Group. It is understood that around 1000 new jobs will be created via the opening of Argos concessions in Sainsbury’s supermarkets and that Sainsbury’s will further benefit by leveraging Argos direct order fulfilment capabilities across its wider business.
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