Mulberry says top investor Challice declines to sell shares to suitor Frasers

Mulberry

14/10/2024 07:16

Oct 14 (Reuters) - UK's Mulberry  MUL.L  said on Monday
its top investor Challice has declined to sell shares in the
company to Frasers  FRAS.L  after the sportswear and apparel
retailer last week sweetened takeover bid for the luxury brand.
    Loss-making Mulberry, known for its luxury handbags and
belts, said its board is working with advisers to consider the
company's position after its second-largest shareholder Frasers
increased the takeover proposal on Friday to value the luxury
retailer at 111 million pounds ($145.1 million).
    

($1 = 0.7652 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))