Burberry shares jump on report of Coach bids
Shares in luxury fashion retailer Burberry rose on Monday following reports the company has rejected multiple takeover bids from US peer Coach.
Burberry Group
612.40p
13:10 24/09/24
2.24%
13.40p
Coach Inc.
$44.12
11:09 23/09/24
3.64%
$1.55
FTSE 100
8,280.42
13:10 24/09/24
n/a
n/a
FTSE 350
4,567.37
13:10 24/09/24
n/a
n/a
FTSE All-Share
4,523.54
13:10 24/09/24
n/a
n/a
Personal Goods
10,350.05
13:10 24/09/24
2.04%
207.10
The Financial Times reported on Sunday that talks between the two companies were no longer active, adding that the situation is not expected to change any time soon.
The FT cited sources as saying that the proposals, which peaked sometimes after the summer, were informal and envisaged a cash-and-stock takeover of the British company.
At 0900 GMT, Burberry shares were down 2.3% to 1,444p.