UK: Laura Ashley boosts Moss Bross stake to 6.3%
Home and high street fashion operator Laura Ashley has once again increased its stake in under-offer Moss Bros - the fifth time since Baugur Group tabled a bid for the men's wear firm in late February.
A statement on the London Stock Exchange this morning (4 April) noted that Ashley had upped its holding to 6.2%, from 5.96%.
It made the transaction through its financial vehicle Bagleys Investments.
Yesterday, Moss Bros announced falling to a full-year loss of GBP1.4m (US$2.8m), in line with market expectations. The company is continuing talks over a possible acquisition by Iceland's Baugur, the head of a consortium which has tabled an offer of 42p per share, valuing Moss Bros at GBP40m.
City insiders have suggested that Laura Ashley could become involved in a counter-bid for the company, or even launch its own takeover offer.
However, other reports have suggested that the company views Moss Bros as simply an investment opportunity, and has no interest in controlling the men's wear retail group.
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