GUS springs 1.6 billion pounds sterling bid

Article Abstract:

Great Universal Stores (GUS) has made a bid for Argos, which has been rejected as too low. Argos is a catalog retailer which has issued profit warnings in 1997, and which plans to pilot a home shopping service in 1998. GUS ranks first in the UK agency catalog market, and owns Choice, Great Universal and Kay's. GUS also owns Innovations and Marshall Ward, both direct catalog concerns. Analysts are divided as to whether the acquisition of Argos would benefit GUS, which would have to borrow some 1 billion pounds sterling to fund the deal.

Mergers, acquisitions and divestments, Great Universal Stores PLC

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Rose no loser

Article Abstract:

Stuart Rose has been appointed acting chief executive at Argos, which faces a hostile bid from Great Universal Stores (GUS). Rose received 600,000 pounds sterling after failing to be appointed chief executive of Debenhams, and will receive 540,000 pounds if the GUS bid is successful. He argues that he would prefer to head an independent company. He does not have experience of catalog shopping but argues that less experience can bring a fresher vision. Analysts see GUS as likely to be successful without a major increase in its offer.

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Rose brightens Arcadia's prospects

Article Abstract:

Stuart Rose has been appointed head of Arcadia, and the change in chief executive was needed.

GENERAL MERCHANDISE STORES, Retail stores, Arcadia

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