Mulberry
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Oct- 2024 -22 OctoberLuxury Goods
Mulberry board backs decision to reject Frasers bid
The board of Mulberry has backed the decision by majority shareholder Challice to reject the improved £111m takeover bid from Frasers Group. Challice stated last week that it had “no interest in either selling its Mulberry shares to Frasers or providing Frasers with any irrevocable or other undertaking with regards…
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21 OctoberNews-In-Brief
Today’s news in brief-21/10/24
Frasers Group has agreed to sell its 20.3% stake in N Brown for £191m to Falcon 24 Topco Limited, owned by Joshua Alliance. Despite divesting from N Brown, Frasers looks forward to a strategic relationship with Alliance. Concurrently, Frasers is pursuing the acquisition of luxury brand Mulberry, raising its offer…
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21 OctoberNews
Frasers backs N Brown takeover deal amid Mulberry plans
Frasers Group has confirmed that it backs the takeover deal of N Brown by the Alliance family and has agreed to the sale of its 20% stake in the company for £38m, as it continues its efforts to strike a deal with luxury brand Mulberry. Frasers Group, owner of Sports…
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18 OctoberAnalysis
A look at Mulberry’s financial struggles and future prospects
Once a darling of the British fashion scene in the 2000s, Mulberry was a go-to accessory for trendsetters like Alexa Chung with its signature leather handbags, such as the Bayswater. However, the group is now grappling with a financial crisis, reporting a pre-tax loss of £34.1m for the year ending…
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14 OctoberNews-In-Brief
Today’s news in brief-14/10/24
Mulberry’s majority shareholder has rejected an increased bid from Frasers Group, which had offered £111m to take control of the luxury fashion brand. Frasers, already owning 37% of Mulberry, raised its offer to 150p per share after a previous £83m bid was turned down. However, Mulberry’s majority shareholder, Challice, expressed…
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14 OctoberLuxury Goods
Mulberry’s majority shareholder rejects increased Frasers bid
Mulberry’s majority shareholder Challice has turned down an increased bid of £111m from Frasers Group as it has “no interest in selling”. Chalice pointed out that Frasers would be unable to take over Mulberry without its support. Frasers, which already owns 37% of Mulberry, raised its offer for the retailer…
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7 October
Today’s news in brief-7/10/24
Mulberry founder Roger Saul has suggested that luxury retailer Mulberry might be a better fit with European luxury group LVMH rather than Mike Ashley’s Sports Direct, following Ashley’s unsuccessful £83m bid to acquire the company. Saul, who founded Mulberry in 1971, emphasised that the brand had drifted from its original…
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7 OctoberLuxury Goods
Mulberry founder suggests LVMH may be best fit for bidder
Roger Saul, the founder of luxury handbag retailer Mulberry, has told This is Money that it would fit “more naturally” with a European luxury group like LVMH. It comes after the retailer rejected an £83m bid from Sports Direct CEO Mike Ashley last week, despite admitting that Mulberry has struggled…
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4 OctoberNews-In-Brief
Today’s news in brief-4/10/24
Shein is moving ahead with plans for a highly anticipated London IPO, reportedly set to hold informal talks with investors across Europe. According to sources, Shein’s roadshows aim to assess investor interest ahead of regulatory approval from both UK and Chinese authorities. Having confidentially filed for a £50bn float in…
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4 OctoberClothing & Shoes
Frasers increases Mulberry stake after failed takeover bid
Mike Ashley’s Frasers Group has acquired more shares in Mulberry just days after it had a takeover bid for the company rejected. Frasers subscribed for 4.0 million shares at the 100p per share fundraising price, through clawback provisions available to major shareholders. Before this Frasers held 22.1 million shares in…
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