Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Mulberry rejects revised Frasers takeover bid as “unwanted distraction”

by October 14, 2024
October 14, 2024
Mulberry rejects revised Frasers takeover bid as “unwanted distraction”

Mulberry’s largest shareholder has dismissed a revised takeover bid from Frasers Group, labelling the move a distraction at a critical time for the struggling luxury handbag brand.

Challice, which holds a 56.1% stake in Mulberry and is controlled by Singaporean billionaires Ong Beng Seng and Christina Ong, has made it clear that it has no intention of selling to Frasers. The group, led by Mike Ashley, raised its offer to 150p per share after its initial bid of 130p was rejected. Frasers already owns 36.8% of Mulberry.

Challice’s firm stance signals that without its backing, Frasers will struggle to gain control of more than 50% of the company. The Ongs hope their refusal will dissuade Frasers from further pursuit, calling the bid “inopportune” and a disruption to the company’s management as they work through a turnaround plan.

The Bath-based brand, famous for its Bayswater handbags, recently posted a £34 million pre-tax loss and has seen a drop in sales, reflecting challenges in the global luxury market. However, Mulberry is confident in its recovery, pointing to the appointment of new CEO Andrea Baldo and a £10.75 million share placing to stabilise the business.

Frasers, however, insists it can steer the brand back to profitability, aiming to avoid what it calls “another Debenhams situation.” Frasers faces a deadline of 5pm on October 28 to either make a formal offer or walk away.

Read more:
Mulberry rejects revised Frasers takeover bid as “unwanted distraction”

0
FacebookTwitterGoogle +Pinterest
previous post
Saudi Sovereign Wealth Fund acquires 40% stake in Selfridges, sparking hopes for revival
next post
Biden-Harris admin accused of ‘too little, too late’ to save the people of war-torn, famine-stricken Sudan

You may also like

Mike Ashley appoints youngest daughter as director to...

August 23, 2024

Prosecutions of tax evasion enablers fall 75% in...

March 31, 2025

How Mojo App helps Companies to reach Customers...

January 13, 2023

AstraZeneca moves $360M investment in a new manufacturing...

February 9, 2023

New survey reveals over half of SMEs planning...

April 23, 2024

Tom Kerridge leads calls on Jeremy Hunt to...

November 10, 2023

FundMyPitch raises £5.7m to fuel SME growth

June 20, 2023

Amazon set to introduce ads on Prime Video

September 23, 2023

Overseas buyers line up to hear pitches from...

April 28, 2025

AI and Machine Learning: Revolutionizing Mobile Development and...

March 10, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Immigrants in Europe and North America earn nearly 18% less than natives, study reveals

      August 13, 2025
    • UK’s EV and battery push: 1.3m vehicles a year by 2035 and cheaper power for factories

      August 13, 2025
    • UK job vacancies fall 5.8% to 718,000 as labour market slowdown deepens

      August 13, 2025
    • Treasury weighs inheritance and capital gains tax reforms to plug £40bn UK budget gap

      August 13, 2025
    • UK’s modern industrial strategy puts advanced manufacturing at the heart of 2035 growth

      August 13, 2025
    • EVs and batteries move centre stage in the UK’s modern industrial strategy

      August 13, 2025

    Categories

    • Business (8,766)
    • Investing (2,201)
    • Politics (16,376)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved