Direct Line rebuffs ‘highly opportunistic’ approach from Aviva November 27, 2024 In a stock exchange announcement, Aviva confirmed that it had submitted an offer last week, which valued the FTSE 250 firm at 250p per share.
National World: Shares in Yorkshire Post and The Scotsman owner surge after £56m takeover offer November 22, 2024 Shares in National World, the media group whose titles include Yorkshire Post and The Scotsman, have surged to their highest level in more than a year after a takeover offer with over £56m was revealed. Irish media group Media Concierge, which is London-listed National World’s largest shareholder with a 26 per cent stake, has tabled [...]
FCA approves £10m acquisition of Musicmagpie by AO World November 6, 2024 The UK’s financial watchdog has approved the acquisition of Musicmagpie by AO World for £10m. First announced in October, the deal will see the electrical retailer acquire Musicmagpie for 9.1p per share, a fraction of its market capitalisation at IPO in 2021. It floated with a share price of 193p. Bolton-headquartered AO sells white goods [...]
Burberry shares jump on Moncler takeover rumours November 4, 2024 Shares in British luxury retailer Burberry have jumped this morning on rumours that the fashion house could be a takeover target for Italian outerwear brand Moncler. Burberry’s share price rose more than seven per cent in early trades, before paring back gains to just over four per cent. Specialist fashion site Miss Tweed reported that [...]
Mike Ashley’s Frasers abandons Mulberry bid amid governance concerns October 23, 2024 Frasers Group, led by Mike Ashley, has confirmed it will not pursue a bid for Mulberry, after the iconic British luxury brand rejected its two previous cash offers earlier this month. The first bid, launched on 1 October at £83m, was dismissed by Mulberry as undervaluing the brand. A subsequent offer on 10 October at [...]
Mike Ashley’s Frasers Group backs N Brown takeover amid Mulberry pursuit October 18, 2024 Mike Ashley’s Frasers Group has backed the £191m proposed takeover of JD Williams-owner N Brown and announced the sale of its 20 per cent stake in the company for £38m. The retail empire, which includes Sports Direct and House of Fraser, holds nearly 95,000,000 shares in the Manchester business and will sell them for 40p [...]
Mulberry to ponder bid from Mike Ashley’s Frasers despite lack of interest from majority shareholder October 14, 2024 British retailer Mulberry has announced that it is evaluating Frasers’ second bid for the firm, despite a lack of interest from its majority shareholder, Challice. In light of Frasers’ £111m bid, the luxury brand is “working with advisers to consider the company’s position,” it said, despite Challice’s public snub of the deal. Challice, which is [...]
In The Style: What’s next for fast-fashion label as founder quits and takeover drags on? October 1, 2024 The founder of fast-fashion label In The Style has quit as a drawn-out takeover deal continues to rumble on. Adam Frisby set up the Manchester-based brand from his bedroom in 2013 and served as its chief executive January 2022 but returned as CEO in December that year before again leaving the role 12 months later. [...]
Rightmove still in play after REA walks away, analysts say October 1, 2024 Rightmove may have seen off Murdoch-owned REA’s unsolicited bids for the company, but the saga is likely to set more would-be bidders on the property platform’s tail, analysts have said. Its share price fell about seven per cent at the start of this week on news that Australian property firm REA had walked away from [...]
Mulberry rejects Frasers £83m offer as too low October 1, 2024 British luxury brand Mulberry has rejected a possible takeover from minority shareholder Frasers Group on the grounds that it doesn’t recognise the company’s future value and will not lead the group back to profit. Frasers announced a possible takeover bid yesterday, 30 September, after it was snubbed from Mulberry’s £10m capital raise with majority shareholder [...]