Challice rejects Frasers Group's £111m takeover bid for Mulberry, citing Debenhams concerns.

Challice, the majority owner of luxury handbag brand Mulberry, has declined an increased £111 million takeover bid from Mike Ashley's Frasers Group. Citing concerns over the potential for a situation similar to Debenhams, Challice, which holds 56% of Mulberry, believes it is not the right time to sell. The Ong family, who control Challice, remains committed to supporting Mulberry amid its recent financial struggles. Frasers must decide by October 28 whether to pursue the bid further.

October 13, 2024
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