Debenhams has held secret talks about mounting a takeover of the menswear chain Moss Bros, it emerged last weekend. The revelation will boost hopes that Moss Bros will be able to attract a bid to top an outline offer already tabled by Icelandic retail group Baugur.
Talks with Debenhams have been informal, and have now been suspended, say City sources. News of the approach will come as a shock to retail-watchers who have seen Debenhams’ own share price collapse from more than 200p less than two years ago to a mere 56p now. Investors are already betting that Baugur’s 42p-a-share outline bid, which would value Moss Bros at just under £40m, will be bettered. Hopes of a higher counter-bid pushed Moss Bros shares to 46.75p on Friday night.
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