Elliott Advisors (EA) could be head to head with JD.com to take over Currys as its future is determined. Reports are that EA’s initial offer of £700m had been rejected by Currys last week and that JD was thought to be planning to make a bid. It is being mooted that any offer would need to be north of £900m for the Currys board to enter into serious negotiations. Eliiott Investors has until 16th March to confirm whether or not it will proceed to make a firm offer for Currys.
With Frasers Group holding around 6 per cent of the shares in what currently looks to be a very shrewd investment, the electricals retailer is worth considerably less than the original sum of its parts – Currys PC World and Carphone Warehouse – most recently posting a £450m loss on £9.5bn sales (FY ended April 23).
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