The Guardian

Mulberry rejects fresh bid from Mike Ashley’s Frasers Group as ‘untenable’

Mulberry rejects fresh bid from Mike Ashley’s Frasers Group as ‘untenable’



Frasers had raised its offer from 130p to 150p a share, valuing the British luxury handbag maker at £111mBusiness live – latest updatesThe British luxury handbag retailer Mulberry has rejected an increased £111m bid from Mike Ashley’s Frasers Group, describing it as untenable.Frasers, which already owns 37% of the company, increased its offer to 150p a share on 11 October from 130p, which had valued Mulberry at £83m. However, the retailer’s biggest shareholder, Challice, a group controlled by the Singaporean entrepreneur Christina Ong and her husband, was quick to rebuff the proposal, saying it had no interest in selling its shares. Challice’s 56% stake means it can block any deal. Continue reading…



Source link : https://www.theguardian.com/business/2024/oct/22/mulberry-rejects-increased-bid-from-mike-ashley-frasers-group-as-untenable

Author : Julia Kollewe

Publish date : 2024-10-22 09:35:28

Copyright for syndicated content belongs to the linked Source.

Tags :The Guardian