UK: Peacock Bids £51.3m For Rival Bon Marche
Discount clothing retailer The Peacock Group announced on Wednesday it has bid £51.3 million for women's fashion chain Bon Marche. The company said the consideration is to be satisfied by the payment of £25.4m in cash, the issue of £2.75m of guaranteed loan notes and the issue of 18.31 million Peacock shares. Bon Marche recently posted a 33 per cent jump in pre-tax profit to £7.6m.
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