Steinhoff has entered the battle to acquire Argos by making a £1.4 billion cash offer to Home Retail Group. This is significantly more than the offer made by Sainsbury’s which comprised cash and shares. Steinhoff which is spearheaded by Christo Wiese operates Bensons for Beds and Harveys in the UK, as well as the recently shuttered Cargo Home chain. Wiese was also behind the acquisition of the fashion chain New Look last year.
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