Mike Ashley’s Frasers Pulls Bid for Handbag Maker Mulberry
- Retail group’s takeover offer had been called ‘untenable’
- UK fashion brand is majority owned by Singapore’s Ong family
A banner flag outside a Mulberry Group boutique in London.
Photographer: Betty Laura Zapata/BloombergThis article is for subscribers only.
Billionaire Mike Ashley’s Frasers Group is walking away from an attempted takeover of Mulberry Group Plc but is still pushing for a board seat at the British handbag maker.
Frasers said Mulberry had not properly engaged with its offer to buy the remainder of the company, in which it already holds a 37% stake.