The Boards of J Sainsbury plc ("Sainsbury's") and Home Retail Group plc ("Home Retail Group" or the "Company") announce that they have reached agreement on the key financial terms of a possible offer for Home Retail Group by Sainsbury's (the "Possible Offer").
Terms of the Possible Offer
Under the terms of the Possible Offer Home Retail Group shareholders will receive per Home Retail Group share:
· 0.321 New Sainsbury's shares; and
· 55 pence in cash.