Mulberry rejects Frasers Group's £111m takeover bid; board focuses on business performance.
Mulberry has rejected a £111 million ($136 million) takeover bid from Frasers Group, owned by Mike Ashley, deeming it "untenable." Frasers, which holds a 37% stake in Mulberry, had proposed to buy the remaining shares at 150p each. However, Mulberry's board, supported by its majority shareholder Challice, decided to focus on enhancing business performance instead. Frasers must submit a firm offer by October 28 or withdraw.
October 22, 2024
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