Frasers Group (GB:FRAS) has released an update.
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Frasers Group PLC has announced a potential cash offer to acquire luxury fashion company Mulberry Group PLC, proposing to buy out the shares it does not already own for approximately £52.4 million, which represents a premium on the current share price. As a significant shareholder of Mulberry, Frasers Group expressed dissatisfaction with Mulberry’s handling of a new share subscription offer and aims to steer the brand back to profitability amid challenging economic conditions. A firm offer hinges on several pre-conditions, including approval from Mulberry’s board and its largest shareholder, with a decision deadline set for 28 October.
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