Business
Financial Conduct Authority Approval Received
Financial Conduct Authority Approval Received.
About this update from J Sainsbury Plc
RNS Number : 1596F Sainsbury(J) PLC 25 July 2016 NOT 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 FOR IMMEDIATE RELEASE 25 July 2016 RECOMMENDED CASH AND SHARE OFFER FOR HOME RETAIL GROUP PLC BY J SAINSBURY PLC SATISFACTION OF REGULATORY CONDITION IN RELATION TO THE FINANCIAL CONDUCT AUTHORITY ("FCA") On 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"). The boards of Sainsbury's and Home Retail Group plc are pleased to announce that they have received approval from the FCA in relation to the Acquisition and, as a result, the Condition set out in paragraph 1(e) of Part III of the Scheme Document has now been satisfied. The 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 approvals of the Home Retail Group Shareholders at the Court Meeting and General Meeting to be held on 27 July 2016. Defined terms used but not defined in this announcement have the meanings set out in the Scheme Document. Enquiries Sainsbury's Joanna Le Neve Foster, Investor Relations Tel: +44 (0) 20 7695 0080 Louise Evans/Anna Harland, Media Relations Tel: +44 (0) 20 7695 7295 Morgan Stanley (Financial ...