UK: House of Fraser tight-lipped on takeover talks
House of Fraser has refused to be drawn on reports Chinese conglomerate Sanpower Group has placed a surprise bid for the UK department store retailer.
According to a report in The Times newspaper, the offer values House of Fraser at more than GBP450m (US$749.2m). The report added that the two companies have been in secret talks for several months.
Sanpower's offer is understood to have been accepted by House of Fraser chairman Don McCarthy, and has been presented to the retailer's other investors for approval.
But a spokesperson for House of Fraser declined to comment on the matter when contacted by just-style this morning (31 March).
The report comes two months after House of Fraser was rumoured to have hired advisers ahead of a potential initial public offering (IPO).
House of Fraser, which operates 61 stores, hailed its "best ever" Christmas trading period earlier this year, after it was boosted by strong fashion and online sales.
What key strengths and strategies are helping retailers to take the lead? Building fully integrated and flexible supply chains, with an end-to-end focus on ethics and responsibility will help to separ...
This report provides information, analysis and valuable insight on developments relating to the global apparel industry in the following categories: acquisitions, divestments and mergers; corporate so...
One of the biggest challenges - and opportunities - facing the apparel industry in 2015 is how best to embrace the omni-channel retail model, improve the shopping experience, and respond with new supp...
This report provides information, analysis and valuable insight on developments relating to the home textile industry in the following categories: acquisitions, divestments and mergers; corporate soci...
Our new Amazon Annual Best seller reports are available on a consultancy basis and deeply mine our own Amazon Trackers research and employ some unique in house modeling techniques. Harnessing insights...
The UK’s department stores are investing in the modernisation of their outlets with the aim of making them more attractive to consumers and incorporate aspects of multichannel retailing more effective...
- Expensive US dollar hitting H&M sourcing costs
- Enthusiasm for tech in outdoor apparel on rise
- 2015: Welcome to the new fashion consumer
- Apparel industry gains traction says IAF chief
- Outlook 2015: What's happening with sourcing?
- Kanati pulls production out of Pakistan
- Gap to close Piperlime division
- EU exploring responsible garment supply chains
- Hanesbrands invests $1.5m in US hosiery plant
- US takes final step to WTO TFA implementation
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Outdoor performance apparel: peaks, valleys, and green fields
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Li & Fung Limited (494) - Financial and Strategic SWOT Analysis Review
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead