23rd Sep 2021 12:24
French Connection Group PLC - London-based fashion retailer - Notes recent share price movement and confirms it has received an approach from a consortium of bidders including company's second largest shareholder Apinder Singh Ghura, Amarjit Singh Grewal and KJR Brothers Ltd. The indicated offer price is 30 pence per share, it says, though the approach may or may not result in a final deal for the firm. With 96.6 million shares in issue, approach values French Connection at around GBP29 million.
"Discussions with the consortium remain ongoing. Accordingly, there can be no certainty that an offer will be made, nor as to the terms on which any offer might be made," it says.
Current stock price: 26.7p, up 16% on Thursday after gaining 5% on Wednesday
Year-to-date change: up sharply from 10.18p at end of 2020
By Lucy Heming;Â [email protected]
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