Mulberry (GB:MUL) has released an update.
Mulberry Group PLC has rejected a potential acquisition offer from Frasers Group PLC, valued at 130 pence per share, after consulting with their financial and legal advisers and their majority shareholder, Challice Limited. The board believes that the company’s future potential value and the recent strategic capital raising initiatives provide a better path forward for delivering value to all shareholders. Frasers, holding a 36.8% stake in Mulberry, has been invited to engage in the capital raising process, with a firm offer deadline set by the Takeover Panel for 28 October 2024.
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