Pursuits
Burberry Stake Disclosure Said Sparked by Trades, Not Suitor
- Shares of fashion retailer fall 6.8% in London trading
- U.K. fashion house said not to have received takeover approach
Someone Might Be Looking to Bid on Burberry
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HSBC Holdings Plc’s disclosure that it held 5 percent of Burberry Group Plc’s shares was part of a series of trades rather than a single bidder building a stake in the U.K. fashion retailer, according to people familiar with the matter. The shares fell on the damped takeover speculation.
HSBC triggered the regulatory disclosure last month after executing trades for a number of clients that briefly took its total holdings above the 5 percent threshold, said the people, who asked not to be identified as the matter is private. Burberry hasn’t received any takeover approach, the people said.