Retail news round-up on March 4, 2016: Sainsbury's clarifies pre-conditions for Home Retail bid could be waived and Walgreens Boots Alliance eyes Australia.
Sainsbury's cautions pre-conditions for Home Retail bid could be waived
Sainsbury’s has informed the Stock Exchange in a statement that it may waive pre-conditions to making an offer for the owner of Argos, such as completing due diligence and getting a recommendation from Home Retail’s board.
This would allow the supermarket giant to ‘go hostile’ in its bid battle with Steinhoff International Holdings.
The grocer added: “There can be no certainty that Sainsbury’s will proceed with an offer for Home Retail even if the pre-conditions are satisfied or waived.”
Walgreens Boots Alliance looks to expand in Australia
Walgreens Boots Alliance is exploring options to expand in Australia, including establishing a Boots franchise network and gaining distribution for its health and beauty brands in local pharmacies.
The health care firm is also interested in acquiring or distributing Australian health and beauty brands to distribute across its retail network.
Walgreens Boots Alliance's global brands president Ken Murphy said the group would ideally like to open company-owned Boots pharmacies in Australia, but was prevented from doing so under existing pharmacy ownership laws.