Steinhoff, the South African based furniture retailer, has abandoned the bid for HRG, clearing the race for Sainsbury. The British retailer therefore decided not to raise its offer. The offer in share and cash assesses HRG at £1.4bn, taking into account 28.5p as the special dividend per share (including 25p as the return to shareholders in respect of a Homebase sale). The announcement has not gone down well with investors; Sainsbury’s share price didn’t earn plaudits. Home R ....