Demerger to continue as planned
GUS has revealed it has rejected a number of approaches for both the Argos Retail Group and Experian during recent months.

In a statement, the group said it has spurned the 'expressions of interest' for Argos Retail Group, which owns Argos, Homebase and Experian, the credit checking business, on the basis that shareholder interests will be better served by the demerger of both companies going ahead as planned.

Seymour Pierce analyst Richard Ratner said: 'It has rejected these approaches, one of which was rumoured to have been from KKR at 1140p a share.'

Over the year to March 31, Argos Retail Group generated sales of£5.5 billion against£5.3 billion the year before. Experian reported sales of£1.7 billion over the period, against£1.36 billion.