Mulberry rejects £83m takeover bid from Mike Ashley’s Frasers Group
by Julia Kollewe from World news | The Guardian on (#6R4RF)
British handbag maker says it is raising cash for turnaround and does not need offer from Sports Direct owner
The British handbag maker Mulberry has rejected an 83m takeover proposal from Mike Ashley's Frasers Group as too low, insisting instead that it would push on with a planned fundraising to fund a turnaround.
The luxury brand said it had considered the approach carefully and consulted its 56.1% majority shareholder Challice, controlled by the Singaporean entrepreneur Christina Ong, who had no interest" in pursuing the possible offer.
Continue reading...