It has emerged that ASOS had been in receipt of a takeover bid fronted by Trendyol, a Turkish online retailer, which is backed by Alibaba, in late December. The offer made of between £10 and £12 per share has not been progressed, according to reports. Detailed information is sparse with neither ASOS or Trendyol providing any comment.
ASOS recently completed a £75m fundraising round from investors in order to push through its plans to stabilise and emerge as a leaner and more efficient operation with the goal of returning to profitable trading. The business is currently valued at around £400m.