Summary
- Mulberry’s largest shareholder rejected a takeover approach from Mike Ashley’s Frasers Group.
- Frasers Group offered £111 million to buy Mulberry, but the shareholder does not plan to sell.
- The majority shareholder, Challice, controls roughly 56% of the company and is not interested in selling to Frasers.
- Challice believes it is an inopportune time for Mulberry to be sold and regrets the distraction caused by the possible offer.