Frasers Group tables all-cash offer for Australian rival MySale
Frasers Group
733.00p
16:38 14/11/24
0.41%
3.00p
Frasers Group tabled an all-cash offer for its smaller Australian rival MySale in a bid to grow its presence Down Under.
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General Retailers
4,604.94
16:38 14/11/24
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Mysale Group
2.25p
13:49 29/11/22
0.22%
0.01p
The 2.0p per share offer valued the shares of MySale that it did not already own at £13.6m.
Roughly a month and a half before, Frasers had purchased a 28.7% stake in MySale, turning it into the smaller company's largest shareholder.
Nevertheless, the offer price represented a 25.7% discount to MySale's closing share price on 16 August, although it was also 60% higher than that on 28 June, when Frasers had raised its stake.
The offer price was final and would not be raised, Frasers said in a statement, although it reserved the right to do so should a third party table a bid or announce its intention of possibly doing so.