US investment company Flacks is considering making a bid for Malaysian-owned, British fashion retailer Laura Ashley.
The firm is in the “very preliminary stages” of a takeover bid for the brand. Any possible takeover offer will be limited to 2.748p in cash per share, resulting in an overall valuation for the retailer at around £20 million (US$26.38 million), according to an announcement by the firm confirming the details. If Flacks buys Laura Ashley, it is expected to primarily focus on the US market and other non-European markets.
“As far as I am concerned, there is no takeover bid because there has been no approach whatsoever,” Laura Ashley chairman Andrew Khoo told investors on Monday, a day prior to Flacks’ announcement. “If and when an approach is made, the board will discharge its duties as always and assess it on its relative merits.
