Sainsbury's set to win Home Retail as Steinhoff pulls out

By James Davey and Tiisetso Motsoeneng LONDON/JOHANNESBURG (Reuters) - Sainsbury's, Britain's No. 2 supermarket, was given a clear run to buy Argos-owner Home Retail for 1.4 billion pounds after rival suitor, South Africa's Steinhoff International, withdrew from the race on Friday. Under UK takeover rules, both companies had until 1700 GMT to make a firm bid for Home Retail and investors had expected a raised offer from one or both in a rare contested bid situation. "Steinhoff now confirms that