Baugur, the Icelandic investment group, has confirmed that it was in talks with House of Fraser about making a cash offer for the department store group.
Shares in HoF rose more than 5% on Friday, or 6.75p to 132.25p, in anticipation of an offer. Baugur said it was “in discussion with the board”.
“Discussions are at an early stage and there can be no certainty that an offer would be forthcoming,” Baugur said in a statement.
References: Financial Times 27/05/06 page 16, The Times Business 27/05/06 page 54
