Argos Owner Backs £1.4bn Sainsbury's Takeover

The board of Argos owner Home Retail Group has agreed to support a takeover by Sainsbury's in a £1.4bn deal - raising the prospect of job losses if hundreds of Argos branches close. The tie-up will create a £6bn non-food operation, putting the new business in the same league as John Lewis and Marks & Spencer and also taking on Amazon. But Sainsbury's has said it plans to relocate many Argos stores within under-occupied space in its supermarkets, threatening the closure of up to 2