Mike Ashley’s Frasers Group tables £83m Mulberry takeover bid after capital raise snub

Mike Ashley's Freyss Group proposed to acquire Malberry for 83 million pounds, and was reported to have been excluded from a discussion on raising 10 million pounds, and ranted to the Board of Directors. 。

Retails, which owned 37 % of Malberry, offered £ 83 million to the remnants of a luxury fashion brand, and evaluated one share to 130. This is about 11 % higher than the stock price closing price on September 27.

Malberry has announced a new share of ordinary shares to procure about 10 million pounds by Charis, a major shareholder of Malberry.

Mike Ashley's Frazes Group said that he did not know this underwriting "just before the announcement", and said that "complete communication lacked" is "unacceptable to other minority shareholders of Freyss and Malberry." 。

Freysers made this proposal about 24 hours after the announcement of the stock underwriting.

By 5:00 pm on October 28, Freyss must decide on a bid to Malberry or that there is no bid.

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Freyss' Group's bidding price was 34. 1 million pounds after Malberry announced that it was decreasing, with a loss of £ 13. 2 million in 2023.

Retail sales in the UK decreased from 87. 7 million pounds in 2023 to 84. 7 million pounds in 2023 due to the consumption habits "under severe macroeconomic uncertainty and inflation pressure."

Retail sales decreased 14 % throughout the world, and sales in Asia decreased by 29 % yea r-o n-year.

Freyss' Group said that Malberry's "Currently ongoing difficulties" was one of the reasons for announcing the bidding.

"The Mike Ashley Group is convinced that Frazers, which have the highest experience in the industry, the presence of a retail store, and the best distribution ability in the class, are the most suitable companies to turn Malberry into a profit. I am doing it.

"Frazers will not allow a completely surviving company to repeat a situation like Divenhams, a bankruptcy trustee," said Frazers.

"I don't expect the macro economy to weaken in the near future," Malbyry said.

"Board of Directors and management continue to watch the situation, keep the margin, and take cautious measures to move as much as possible as a global and sustainable luxury brand."