Poor sales over Christmas for Home Retail Group plc (LSE:HOME) could strengthen the appeal of any offer from J Sainsbury plc (LSE:SBRY), if it can convince its own investors that a deal makes sense. Home Retail's Chief Executive John Walden said the ball was now firmly in Sainsbury's court. It has until February 2, 2016 to make a firm offer or walk away.

"They haven't given us an offer since the original approach," he said. "We don't know what's next, if anything."