J Sainsbury plc (LSE:SBRY) nears the acquisition of Home Retail Group plc (LSE:HOME). According to the talks, the advisors form both the companies were set to spend the weekend locked in talks to thrash out a deal. Representatives of the two sides were said to sign off an agreement in the early part of next week, ahead of the Takeover Panel's ‘put up or shut up' deadline of February 2, 2016.

The talks have taken on added urgency due to the market chatter that ASDA Group Limited is also eyeing Home Retail. Daily Mail added that Sainsbury and Home Retail declined to comment. Shares of Home Retail rose 7.5 pence to 144.7 pence.