It is all over the press today that Arcadia have generated £200m cash upto Aug 30 and that PG is looking at an acquisition. The concensus in city brokers and within the retail analysts is that FC is one he is looking at. I am not sure why he would discount it so therefore I believe it as an option that is on the table.
PG. hasn't been an acquirer now for some years as I recall. And he seems content with tweaking his own range of brands, such as loading BHS stores with food departments. FCCN 's best prospects I believe is to continue the recovery now taking shape under existing management which should again drive the SP.
I agree with all of the below, however, when you look at takeover targets that PG could turn around and quickly this one does stick out like a sort thumb, hence the rumours I guess. Marks is almost 70 now and there is no obvious candidate to take over from him.
As Mr French Connection himself founded the Co circa 1969, wouldn't have thought Mr Marks would be a ready seller, especially not to a fellow rag-trader. it seems Marks is more interested in revitalising the Co., with the aim of restoring it to its former glory days. Only then could I see a sale. Only at the right price of course.
Arcadia circling French Connection
Rumours in the city that Philip Green to buy French Connection!! Watch this fly!
17 Nov '14
interim management statement this week i think ,there is a lot amount of cash in the bank .
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