// Homebase is being considered for a takeover by British businessman Hugh Osmond
// His investment vehicle, Osmond Capital, has emerged as a serious bidder
// Despite the interest, Osmond is not yet in exclusive talks with Homebase
Businessman Hugh Osmond is reportedly preparing a £300 million takeover approach for Homebase, the DIY chain revived from the brink of collapse just three years ago.
Osmond is assembling a £300m takeover bid for Homebase as he joins the line-up of interested buyers, Sky News reported.
His investment vehicle, Osmond Capital, had emerged as a serious bidder for Homebase, which is owned by Hilco Capital.
Osmond is not thought to be in exclusive talks to buy Homebase.
Hilco is thought to have weighed a stock market flotation of the business.
Homebase has been on the market since November when Hilco announced plans to sell or list.
Hilco hired investment bank Lazard to sell Homebase as it aimed to benefit from the surge in demand.
Osmond took control of restaurant chain Pizza Express in 1993 with Luke Johnson, another businessman who went on to transform the fortunes of a series of high street dining chains.
The duo, who paid £20 million for the business and took Pizza Express public.
Should Osmond proceed with a takeover of Homebase, it would be implemented through Osmond Capital.
Homebase said it is looking at “a number of options to further accelerate our growth plans, and this process is still ongoing”.