Struggling retailer reverses £5.7m takeover stance after poor Q1 trading

  Wakefield-headquartered Bon Marché has this morning reversed its stance on a full £5.7m takeover bid for the struggling retailer after poor trading during Q1. Billionaire Phillip Day - through his Dubai-based investment vehicle Spectre- made a mandatory cash offer of £3m in April, purchasing 52% of the listed retailer. Under takeover rules, this meant that an offer for the full shares had to be made by Spectre and this was confirmed as being £2.73m - taking the total takeover acquisition cost to £5.73m. Bon March... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
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