French Connection is in receipt of a takeover offer from a group of investors which includes its second-largest shareholder. The offer of 30p per share puts a £29 million value on the retail business which was put up for sale in March of this year. The business posted an underlying loss of £112.7 million for the year to January 31st.
The company issued a statement: “The board of French Connection Group plc notes the recent share price movement and confirms that it has received an approach from a consortium of bidders including the company’s second-largest shareholder Apinder Singh Ghura, Amarjit Singh Grewal and KJR Brothers Limited as a potential offeror for French Connection.”
It is understood that talks are in progress.
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