{"id":144856,"date":"2024-09-30T12:18:16","date_gmt":"2024-09-30T12:18:16","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/09\/30\/mulberry-mike-ashleys-frasers-group-makes-bid-for-handbag-maker\/"},"modified":"2024-09-30T12:18:16","modified_gmt":"2024-09-30T12:18:16","slug":"mulberry-mike-ashleys-frasers-group-makes-bid-for-handbag-maker","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/09\/30\/mulberry-mike-ashleys-frasers-group-makes-bid-for-handbag-maker\/","title":{"rendered":"Mulberry: Mike Ashley’s Frasers Group makes bid for handbag maker"},"content":{"rendered":"
\"Mulberry:<\/div>


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Luxury handbag maker Mulberry has received a takeover approach from Mike Ashley’s Frasers Group.<\/p>\n

The offer values Mulberry, which has seen sales fall sharply following a downturn in the luxury sector, at \u00a383m.<\/p>\n

Frasers Group, which owns several chains including Sports Direct, Flannels and Evans Cycles, already holds a 37% stake in the firm.<\/p>\n

Its takeover move followed an announcement by Mulberry on Friday that it was seeking to raise \u00a310m to bolster its finances.<\/p>\n<\/div>\n

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But in a statement on Monday, Frasers said it had only been made aware of this plan to raise funds \u201cimmediately prior to its announcement\u201d.<\/p>\n

“Given this total lack of engagement, we believe the status quo to be an untenable position for Frasers and the other minority holders of Mulberry shares,” it said.<\/p>\n

Frasers added that with its “leading retail expertise and presence… we believe Frasers to be the best steward for returning Mulberry to profitability”.<\/p>\n

“As a 37% shareholder, Frasers will not accept another Debenhams situation where a perfectly viable business is run into administration.”<\/p>\n

Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: “Mike Ashley\u2019s frustration with Mulberry is plain to see.<\/p>\n

“Keeping it quiet indicates that the [Mulberry] board didn\u2019t want to give Frasers the early option of owning an even bigger chunk of the company. <\/p>\n

“However, investors may also be losing patience, given that Mulberry\u2019s shares have fallen by 52% over the past year.”<\/p>\n

Ms Streeter said Frasers Group had already taken steps to “move upmarket”, such as increasing its stake in Hugo Boss.<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Luxury handbag maker Mulberry has received a takeover approach from Mike Ashley’s Frasers Group. The offer values Mulberry, which has seen sales fall sharply following a downturn in the luxury sector, at \u00a383m. Frasers Group, which owns several chains including Sports Direct, Flannels and Evans Cycles, already holds a 37% stake in the firm. Its […]<\/p>\n","protected":false},"author":2,"featured_media":144857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/ed3d\/live\/4b188c10-7f17-11ef-ba82-c1e04bde03d4.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[46829,8192,94016,659,84372,5326,6225,115215],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/144856"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=144856"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/144856\/revisions"}],"predecessor-version":[{"id":144858,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/144856\/revisions\/144858"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/144857"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=144856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=144856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=144856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}