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.
For further insights into GB:FRAS stock, check out TipRanks’ Stock Analysis page.
