Superdry supercharged by takeover speculation
02/02/2024 10:42
** Superdry SDRY.L shares soar 84%, analysts flag market speculation of takeover talk ** Move follows disclosure on Wednesday that Norwegian investment fund First Seagull built a 5.32% stake in the British fashion retailer ** Market players flag article in UK newspaper The Times which said that U.S. private equity company Sycamore Partners and Authentic Brands Group, which owns Ted Baker, have Superdry on their radars ** Trading volume for Friday stands at c. 7.2 million shares, dwarfing 30-day average trading volume of 1.5 million ** Share move retraces losses over last month, which saw Superdry report a drop in Christmas sales, the departure of its CFO and news that co. drafted in PwC to examine further debt-raising options. ** Superdry declined to comment. Sycamore Partners, Authentic Brands Group and First Seagull did not immediately respond to a request for comment. (Reporting by Lucy Raitano, editing by Alun John)