THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
CX
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Uncategorized
Retail Events
People in Retail Awards 2024
Retail HR Summit
THE Retail Conference
Retail HR North 2025
Retail Ecom North
Omnichannel Futures 2025
Retail HR Central 2025
The Future of The High Street 2025
Retail Ecom Central
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Mulberry rejects Frasers Group’s proposed takeover bid

Luxury brand Mulberry has rejected a potential takeover bid by Mike Ashley’s Frasers Group. The news follows Frasers Groups’ tabling of a possible offer which valued… View Article

FASHION RETAIL NEWS UK

Mulberry rejects Frasers Group’s proposed takeover bid

Luxury brand Mulberry has rejected a potential takeover bid by Mike Ashley’s Frasers Group.

The news follows Frasers Groups’ tabling of a possible offer which valued the business at £83 million. The company is Mulberry’s second largest shareholder with a stake of 37%.

In a statement, Frasers Group said yesterday: “We have long been supportive of the brand and commercial opportunities available to the company.

“With our leading retail expertise and presence, and best in class distribution capability, we believe Frasers to be the best steward for returning Mulberry to profitability.”

Mulberry’s sales have been hit by a slowdown in the luxury market and it is currently planning to raise over £10 million in cash.

Today it said it had considered the possible offer and consulted with Challice, its 56.1%. majority shareholder, and concluded that the it did not recognise Mulberry’s “substantial future potential value”.

It added that Challice is supportive of the company’s turnaround strategy which is being led by Mulberry’s recently appointed chief executive, Andrea Baldo.

Under UK takeover rules, Frasers Group now has a deadline of 28 October to make a firm offer for Mulberry or walk away.

 

Subscribe For Retail News