Grocer hoping to bag a bargain

ASDA is believed to be considering a £4.4bn takeover bid for discount retailer b&M, a move which would make it the latest grocer to look beyond the traditional food and drink space.

britain’s third biggest supermarket is reportedly in the early stages of assessing a bid for b&M, the bargain houseware chain run by billionaire siblings simon and bobby arora.

asda could not be reached by the Mail while b&M declined to comment.

UK supermarkets have been forced to move out of their traditional market in the face of constantly growing competition from german discount rivals Lidl and aldi.

Last year sainsbury’s bought up retailer argos for £1.4bn and is now looking at buying convenience chain nisa.

Meanwhile Tesco faces a competition enquiry over its £3.7bn purchase of budgens owner booker group.