Mulberry slumps as Frasers says it has no intention to make a bid
Mulberry shares tumbled on Thursday afternoon after Mike Ashley’s Frasers Group said it does not intend to make an offer for the luxury handbag maker.
Frasers Group
589.50p
17:15 07/01/25
-2.32%
-14.00p
FTSE 250
20,350.37
17:14 07/01/25
n/a
n/a
FTSE 350
4,537.45
17:14 07/01/25
n/a
n/a
FTSE AIM All-Share
725.28
16:54 07/01/25
n/a
n/a
FTSE All-Share
4,493.46
16:44 07/01/25
n/a
n/a
General Retailers
4,611.96
17:14 07/01/25
-0.53%
-24.56
Mulberry Group
108.50p
16:50 07/01/25
0.00%
0.00p
Personal Goods
15,496.23
17:14 07/01/25
1.15%
175.82
Frasers upped its stake in Mulberry last month to 37% and said it was considering a possible takeover. Frasers bought just over 4.3 million shares from Iceland’s Kaupthing at 150p each.
Under the Takeover Code, when a person or group acquires a 30% stake in a company, they must make a cash offer for the remaining shares.
Frasers had until Thursday to either make an offer or walk away.
At 1600 GMT, Mulberry shares were down 11% at 214p.