Business
Statement Regarding Steinhoff Announcement
Statement Regarding Steinhoff Announcement.
About this update from Home Reit Plc
[{"type":"text","content":"\n \nRNS Number : 6582P Home Retail Group Plc 19 February 2016 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO, OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\n \n19 February 2016\n \nFor immediate release\n \nHome Retail Group plc\n \nStatement Regarding Steinhoff Announcement\n \n \nThe Board of Home Retail Group plc (“Home Retail Group” or the “Company”) notes the announcement regarding a possible offer by Steinhoff (“Steinhoff”) and confirms that it has received an approach from Steinhoff regarding a possible cash offer for the Company for a total value of 175 pence per Home Retail Group share (the “Steinhoff Proposal”). The Board is reviewing the Steinhoff Proposal with its advisers and will make a further announcement in due course. Home Retail Group shareholders are advised to take no action at this time.\n \nIn accordance with Rule 2.6(a) of the City Code on Takeovers and Mergers (the \"Code\"), Steinhoff will have until 5.00pm on 18 March 2016, being 28 days after today's date (or such later time and / or date as may be agreed by the Panel on Takeovers and Mergers in accordance with Rule 2.6(c) of the Code), to announce either a firm intention to make an offer for Home Retail Group in accordance with Rule 2.7 of the Code, or that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.\n \nThere can be no certainty that a firm offer will be made, nor as to the terms on which any firm offer might be made. The Board will issue a further statement if and when appropriate. In the meantime, Home Retail Group shareholders are advised to take no action. \n \nThis announcement is being made by Home Retail Group without the prior agreement or approval of Steinhoff.\n \n \nEnquiries \nBofA Merrill Lynch - Financial Adviser and Corporate Broker\nJonathan Bewes +44 (0)20 7628 1000\nGeoff Iles\nEamon Brabazon\nLuke McMullan\n \nRLM Finsbury - Public Relations Adviser\nRollo Head &...