19th Dec 2020 08:53
(Alliance News) - Clothing and homewares retailer Next PLC is in discussions with the US's Davidson Kempner Capital Management about a joint offer for collapsed UK fashion store chain Arcadia, Sky News reported on Friday.
Sky cited "sources" as saying on Friday that the two companies were "likely, but not certain" to bid for the owner of the Topshop, Burton and Miss Selfridge brands. Davidson Kempner would provide the majority of the funding required for the takeover, according to Sky, and would own the majority of the business afterwards.
https://news.sky.com/story/next-and-us-investor-in-talks-about-bid-for-greens-arcadia-12166441
Next shares closed down 2.0% at 6,784.00 pence in London on Friday, giving the FTSE 100 company a GBP9.02 billion market capitalisation.
By Tom Waite; [email protected]
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