Currys takeover move scrapped by US firm Elliot
Elliott Advisors abandons takeover bid for Currys, JD.com considering offer.
- Bilawal Riaz
- 1 min read
US investment firm Elliott Advisors has abandoned its takeover bid for electricals retailer Currys after being rejected by the company’s board multiple times. Initially proposing an offer valuing Currys at £700 million, which was later increased to £757 million, Currys claimed that the bids significantly undervalued the business. While China’s JD.com expressed interest in making a bid for Currys last month, it is currently in the very preliminary stages of evaluating a potential offer. Under UK takeover rules, JD.com has until 18 March to make a formal offer or withdraw its interest.
- Tags:
- US
- China
- UK
- Currys
- Elliott Advisors
- Electricals