General
British retailer Next, U.S. investor plan joint bid for Arcadia
Fashion retailer Next is in talks with American investment firm Davidson Kempner Capital Management for a joint bid to gain control of Arcadia fashion group, which collapsed into administration last month, Sky News reported on Friday.
The two companies were “likely, but not certain” to bid for Arcadia ahead of a revised deadline next Monday, the Sky News report added, citing sources.
Under the plans being discussed, Davidson Kempner would provide the majority of the funding required to complete a takeover, Sky News reported.
Next and Davidson Kempner Capital Management did not immediately respond to Reuters requests for comment.
Arcadia’s collapse into administration in November put over 13,000 jobs at risk, with the…
-
Business5 hours ago1 ASX dividend stock down 43% I’d buy right now
-
General23 hours agoFederal Labor makes $100m Canberra convention centre funding pledge for planning, new aquatic centre
-
General21 hours agoSector warns Coalition’s plan to limit overseas students ‘straight out of Trump’s playbook’
-
General13 hours agoPope Francis makes surprise first appearance after hospital stay