Currys could be at the centre of a takeover battle after Chinese e-commerce group JD.com said it was considering an offer for the company.
The potential bid emerged after Currys said at the weekend it had rejected a £700m takeover approach from US investment firm Elliott.
JD.com said it was “in the very preliminary stages” of evaluating a possible bid for the retailer.
JD.com said it was “in the very preliminary stages” of evaluating a possible bid for the retailer.
The retailer has more than 800 stores globally and employs 28,000 people. In the UK, it operates about 300 stores with 15,000 staff.
On Saturday, Currys said it had turned down a takeover approach from Elliot of 62p per share, which would have valued it at about £700m, saying the offer “significantly undervalued” the company.
However, reports suggest that Elliott, which bought UK book shop chain Waterstones in 2018, could come back with a higher offer.
Currys’ share price has fallen by more than a third over the past year and on Friday,before news of the takeover interest, it closed at 47.08p, valuing the business at about £534m.
Following reports that it was a potential bidder for Currys, JD.com issued a statement saying it was “in the very preliminary stages of evaluating a possible transaction that may include a cash offer” for the UK retailer.
Currys could be at the centre of a takeover battle after Chinese e-commerce group JD.com said it was considering an offer for the company.
JD.com said it was “in the very preliminary stages” of evaluating a possible bid for the retailer.
The potential bid emerged after Currys said at the weekend it had rejected a £700m takeover approach from US investment firm Elliott.
The retailer has more than 800 stores globally and employs 28,000 people. In the UK, it operates about 300 stores with 15,000 staff.
JD.com said it was “in the very preliminary stages” of evaluating a possible bid for the retailer.
JD.com said it was “in the very preliminary stages” of evaluating a possible bid for the retailer.
The retailer has more than 800 stores globally and employs 28,000 people. In the UK, it operates about 300 stores with 15,000 staff.
On Saturday, Currys said it had turned down a takeover approach from Elliot of 62p per share, which would have valued it at about £700m, saying the offer “significantly undervalued” the company.
However, reports suggest that Elliott, which bought UK book shop chain Waterstones in 2018, could come back with a higher offer.
Currys’ share price has fallen by more than a third over the past year and on Friday,before news of the takeover interest, it closed at 47.08p, valuing the business at about £534m.
Following reports that it was a potential bidder for Currys, JD.com issued a statement saying it was “in the very preliminary stages of evaluating a possible transaction that may include a cash offer” for the UK retailer.
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