Frasers Group Proposes Revised Takeover Bid for Mulberry

Frasers Group (GB:FRAS) has released an update.

Frasers Group PLC has submitted a revised non-binding indicative offer to acquire all outstanding shares of Mulberry Group PLC, following Mulberry’s rejection of a previous proposal and a £10 million emergency funding round that Frasers believes is insufficient for Mulberry’s near to medium-term needs. Frasers’ new offer proposes 150 pence per share, valuing Mulberry at approximately £111 million and representing a substantial premium over recent share prices and the emergency funding subscription price. The offer is contingent on various pre-conditions, including approval from Mulberry’s Board and its largest shareholder.

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