Business
UK Competition and Markets Authority Approval
UK Competition and Markets Authority Approval.
About this update from J Sainsbury Plc
[{"type":"text","content":"\n \nRNS Number : 9556E Sainsbury(J) PLC 22 July 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 OF SUCH JURISDICTION\nFOR IMMEDIATE RELEASE\n22 July 2016\nRECOMMENDED CASH AND SHARE OFFER\nFOR\nHOME RETAIL GROUP PLC\nBY\nJ SAINSBURY PLC\nUK COMPETITION AND MARKETS AUTHORITY (\"CMA\") APPROVAL\nOn 1 April 2016, the boards of J Sainsbury plc (\"Sainsbury's\") and Home Retail Group plc (\"Home Retail Group\") announced (the \"Rule 2.7 Announcement\") that they had reached agreement on the terms of a recommended cash and share offer (the \"Acquisition\") to be made by Sainsbury's for the entire issued and to be issued share capital of Home Retail Group. On 5 July 2016, Home Retail Group plc published the scheme document in connection with the Acquisition (the \"Scheme Document\"). On the same day, Sainsbury's published the prospectus in relation to the New Sainsbury's Shares to be issued in connection with the Acquisition (the \"Prospectus\").\nThe boards of Sainsbury's and Home Retail Group plc welcome today's announcement by the CMA that it has unconditionally cleared the Acquisition following its Phase 1 investigation.\nThe Acquisition remains subject to the satisfaction or waiver (if capable of waiver) of the remaining Conditions as set out in the Scheme Document including, amongst others, the approval of the Acquisition by the Financial Conduct Authority and the approvals of the Home Retail Group Shareholders at the Court Meeting and General Meeting to be held on 27 July 2016.\nDefined terms used but not defined in this announcement have the meanings set out in the Scheme Document.\nEnquiries\nSainsbury's\nJoanna Le Neve Foster, Investor Relations Tel: +44 (0) 20 7695 0080\nLouise Evans/Anna Harland, Media Relations Tel: +44 (0) 20 7695 7295\nMorgan Stan...