Wesfarmers Offers $489 Million to Buy U.K. Chain Homebase

  • Australian company plans to build Bunnings-branded business
  • Home Retail plans to return 200 million pounds to shareholders

Wesfarmers Ltd. offered to buy Homebase in the U.K. for 340 million pounds ($489 million) as the Australian conglomerate attempts to secure an overseas foothold for its home-improvements business.

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