1. Austin Reed Set for Sale.
- Author
-
Jones, Nina
- Subjects
- *
BIDS , *BID price , *SALE of business enterprises , *STOCKHOLDERS , *DISINVESTMENT - Abstract
The article reports that Darius Capital, a wholly owned subsidiary of London-based Dawnay Day Corporate Finance, has made a bid for Austin Reed, the classic British men's and women's wear retailer. Austin Reed's directors recommended that the company's shareholders accept the offer valuing the company at 49 million pounds, or $92.8 million, which translates to 144 pence, or $2.73, a share. Darius Capital, controlled by Guy Naggar and Peter Klimt, currently holds a 39% stake in Austin Reed.
- Published
- 2006