JB Hi-Fi has responded to renewed media reports that it is set to confirm the acquisition of whitegoods retailer, The Good Guys.

The Australian newspaper has reported that JB Hi-Fi is planning to make a $850 million to $900 million offer for The Good Guys next week.

It said JB Hi-Fi was expected to tap shareholders for $300 million in an equity raising to help fund the acquisition.

The electronics retailer denied this in a statement to the Australian Securities Exchange on Tuesday morning, saying it “has made no decision nor has it entered into any agreement”.

“JB Hi-Fi remains in the sale process and continues discussions with The Good Guys in regard to a potential acquisition,” it said

The Good Guys is understood to be open to takeovers while it continues to assess an IPO on the ASX.

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.