Electronics retailer Currys has rejected a more than £680m takeover offer from US hedge fund Elliott Advisors, claiming it significantly undervalued the company.
The hedge fund lodged a 62p per share unsolicited bid, valuing the retailer at £682m. Currys’ shares closed at 47.08p last week.
Elliott now has until 16 March to make a firm bid for the company.
Chinese online shopping empire JD.com is considering entering the battle for Currys and is understood to have held early exploratory talks.
JD.com, which runs an Amazon-style online offering, is keen to expand outside of China. Last November the firm was linked with German electronics chains MediaMarkt and Saturn.
Sky News
The Times (£)
The Telegraph (£)
The FT (£)
The Guardian
