Sainsbury’s Acquisition Of Home Retail Cleared By FCA

Sainsbury’s takeover agreement with the Home Retail Group has been approved by the Financial Conduct Authority (FCA). Yesterday’s announcement comes after Competition and Markets Authority (CMA) last week gave its the go-ahead for the £1.4bn deal.

The takeover is now subject to clearance from Home Retail shareholders, who will be asked to approve the deal at a meeting tomorrow.