5th Feb 2021 09:00
(Alliance News) - French Connection Group PLC on Friday confirmed it has received two separate takeover approaches.
The London-headquartered fashion designer, responding to recent share price movement, said the approaches have been from Spotlight Brands LLC in conjunction with Gordon Brothers International LLC and Go Global Retail in conjunction with HMJ International Services Ltd.
Shares in French Connection were up 74% at 27.20 pence in London on Friday. The stock has more than doubled from 10.18p since the start of 2021.
Los Angeles, California-based Spotlight Brands is a boutique consulting agency specialising in national wholesale sales and marketing for small, premium wineries.
New York, US-based Go Global Retail is a brand investment platform for investors from the textile, apparel and footwear industries.
French Connection said talks with both companies remain at a very early stage, and there can be no certainty that an offer will be made, nor any offer terms.
According to UK takeover rules, Spotlight Brands and Go Global Retail are required to either announce a firm intention to make an offer or walk away by March 5.
By Zoe Wickens; [email protected]
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