But the proposal “significantly undervalued” the company, Currys said.
Elliott has a reputation as an activist investor, meaning it pursues companies in order to take them over and change how they are run.
Elliott has a reputation as an activist investor, meaning it pursues companies in order to take them over and change how they are run.
Elliott has said it is now considering whether or not to make a formal offer for Currys, and under UK takeover regulations it has until 16 March to decide.
Like many High Street businesses, Currys has been struggling with falling sales as customers cut back on spending.
Last month, the company said like-for-like sales – which strip out the impact of store openings and closures – fell 3% over the key Christmas trading period.
Despite this, cost-cutting measures meant that Currys increased its profit forecast for the year.
However, shares in Currys have fallen by more than a third over the past year and on Friday they closed at 47.08p, valuing the business at about £534m.
Elliott has a reputation as an activist investor, meaning it pursues companies in order to take them over and change how they are run.
But the proposal “significantly undervalued” the company, Currys said.
Elliott has said it is now considering whether or not to make a formal offer for Currys, and under UK takeover regulations it has until 16 March to decide.
Elliott has a reputation as an activist investor, meaning it pursues companies in order to take them over and change how they are run.
Elliott has a reputation as an activist investor, meaning it pursues companies in order to take them over and change how they are run.
Elliott has said it is now considering whether or not to make a formal offer for Currys, and under UK takeover regulations it has until 16 March to decide.
Like many High Street businesses, Currys has been struggling with falling sales as customers cut back on spending.
Last month, the company said like-for-like sales – which strip out the impact of store openings and closures – fell 3% over the key Christmas trading period.
Despite this, cost-cutting measures meant that Currys increased its profit forecast for the year.
However, shares in Currys have fallen by more than a third over the past year and on Friday they closed at 47.08p, valuing the business at about £534m.
#Currys #rejects #700m #takeover #approach #firm #Elliott
Note:- (Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor. The content is auto-generated from a syndicated feed.))
