Offer values the company at £400 million
Value fashion group Peacocks this morning confirmed that it has received an approach, valuing the retailer at about£400 million.
An unnamed suitor for the company is offering 340.5p a share, although the group stressed this morning that talks were still at a preliminary stage.
Today's announcement follows reports on Friday that a consortium of hedge funds, working with Goldman Sachs, joined forces to bid for the company. The hedge funds include Och-Ziff Capital, Perry Capital and Citadel. It is understood that if the consortium is successful, the existing management team, led by Richard Kirk, will remain in place.
Peacock Group includes value fashion chain Bonmarché and Fragrance Shop, as well as the eponymous chain. The group operates more than 700 shops and earlier this year announced ambitious expansion plans.
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