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Burberry Gains on Speculation Trenchcoat Maker May Be Target

  • Stock gains 6.8% in London, after falling 27% in past year
  • Shareholder activism `increasingly likely,' analyst says
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Who Could Bid for Burberry?

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Burberry Group Plc jumped on speculation that the U.K.’s biggest luxury-goods producer is setting up defenses against a potential takeover offer in response to stake building.

The stock advanced 6.8 percent to 1,464 pence at 11:08 a.m. in London, the day’s highest price, boosting the company’s market value to 6.5 billion pounds ($9.2 billion). Other luxury stocks also gained, with shares of Prada SpA rising 6.2 percent in Hong Kong.