Written by Mike Ashley’s Frasers Group has criticised the management of Mulberry as it walked away from its attempts to take over the luxury handbag maker after a series of rejected offers. Frasers, which is Mulberry’s second-largest shareholder with a 37% stake, had made several offers for the fashion brand, culminating in a £111m bid this week, […]
The British luxury handbag retailer Mulberry has rejected an increased £111m bid from Mike Ashley’s Frasers Group, describing it as untenable. Frasers, which already owns 37% of the company, increased its offer to 150p a share on 11 October from 130p, which had valued Mulberry at £83m. However, the retailer’s biggest shareholder, Challice, a group […]
The owner of the Mulberry fashion brand has rejected an increased £111m bid from Mike Ashley’s Frasers Group to buy the British luxury handbag maker, saying it has “no interest” in selling its shares. Challice, a group controlled by Singaporean entrepreneur Christina Ong and her husband, Ong Beng Seng, which owns 56% of Mulberry – […]