Mulberry Rejects Frasers' £111M Offer Again - Fashion World's Biggest Drama Unfolds!

Brace yourself for the ultimate fashion drama. Mulberry, the dazzling U.K.-based luxury fashion brand, has once again turned down a bold acquisition move from the relentless Frasers Group. Yes, you've got it right, Mulberry shrugged off a second proposal from their persistent suitor.

Despite being a minority shareholder with a tantalizing 37% stake, Frasers attempted to sweep up the remaining shares with an irresistible offer of 111 million pounds. But wait - the plot thickens as Challice Limited, the majority shareholder, decisively snubs Frasers' advances, declaring they have "no interest" in selling. Ouch!

It's not Frasers’ first rodeo. Just a few weeks ago, they dangled 83 million pounds before Mulberry's board, only to have the charming new CEO, Andrea Baldo, play the ultimate rejection card. Frasers is pressing on, questioning if Mulberry's financial plans can actually withstand future storms. 🎭

Adding a juicy twist, Frasers argues there's “no current commercial plan, turnaround, or otherwise.” However, Mulberry's poker face remains firm, pledging to release another tantalizing announcement soon.

Tick-tock! The clock is ticking for Frasers, with October 28 as their deadline to either double-down or fold their hand. Will they strike gold or walk away empty-handed?

In a jaw-dropping revelation, Mulberry reported a whopping 4% drop in revenue and a staggering pre-tax loss in their recent fiscal results. Yikes! Meanwhile, Frasers isn't sailing smooth either, caught in an acquisition whirlwind themselves when they stumbled with Matches.

Stay tuned, fashion fanatics. This is a sartorial soap-opera you simply cannot miss! High stakes, sharp suits, and a battle for the throne. What's not to love?