7th Mar 2016 20:27
LONDON (Alliance News) - Luxury goods retailer Burberry Group PLC has sought help from its financial advisers to defend itself against a possible takeover bid after a mystery investor built up a 5.0% stake in the company, the Financial Times reported.
A person close to the company said Burberry had unsuccessfully attempted to obtain the identity of the investor from HSBC, which is listed as the custodian for the stake.
Burberry shares have been under pressure in the past year, hit by the slowdown in its key Chinese market, and it is understood to have asked its current banker, Robey Warshaw, to help with the situation. Morgan Stanley, its corporate broker, is also understood to be looking into the matter, the FT said.
https://next.ft.com/content/34b6aa28-e48f-11e5-a09b-1f8b0d268c39
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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