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Article: Duke Street bids for Homebase
- Article from:
- Scotland on Sunday
- Article date:
- October 1, 2000
- Author:
CopyrightCopyright 2000 Scotland on Sunday. Provided by ProQuest LLC. (Hide copyright information)
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DUKE Street Capital, the private equity firm, is pulling out the
stops to become one of the dominant forces in do-it-yourself
retailing as the sales of the Homebase and Great Mills chains reach
their final stages.
It is understood that Duke Street, the owner of Focus Do It All,
has tabled a final bid for Homebase, which Sainsbury's has put up
for sale with a price tag of about GBP 1bn.
The move brings the venture capital firm into a head-to-head race
with French group Leroy Merlin, which is also known to have met the
Friday deadline for final bids.
But Duke Street will also submit an offer tomorrow for Great
Mills, the chain being auctioned by building materials group RMC for
up to GBP ...