Asos rejected a higher bid for Topshop from Shein and ABG
Asos sold its 75% stake in the Topshop and Topman brands to Heartland for £135m despite receiving a higher offer from fast-fashion juggernaut Shein and Authentic Brands Group (ABG).
Asos agreed instead to sell to Heartland, an investment and holding company “representing the interests” of the Holch Povlsen family and their Danish business Bestseller.
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