Burberry has reportedly rejected multiple takeover offers from Coach

Burberry has reportedly rejected multiple takeover offers from Coach

British trench coat maker Burberry has declined to comment on reports it has rejected multiple takeover offers from US luxury accessories business Coach Inc.

A spokesperson for Burberry said it would not comment on the report in the Financial Times yesterday (4 December), which put a market value on the combined company of over US$20bn. The report said proposals made by Coach were "informal" and anticipated a cash and stock takeover of Burberry. 

It is unclear, however, what the offers were, or whether Burberry and Coach have even engaged in serious talks about a potential deal. 

Only last month analysts suggested Burberry could be a good fit for Coach's international distribution ambitions, following reports of a potential tie-up between the two companies in October.

Coach was said to have been working with financial advisers at Evercore on a possible deal. According to Stifel analyst Richard Jaffe, Coach has been on the hunt for an acquisition since the sale of its Hudson Yards office building, citing the benefits it enjoyed following the acquisition of Stuart Weitzman last year.

Is Coach considering a merger with Burberry?

Coach could not be reached for comment at the time of going to press.