(Alliance News) - Shares in eve Sleep PLC were suspended on Monday as the company confirmed "very early stage" talks over a merger with Simba Ltd.
The deal would see Simba buy online mattress seller eve Sleep, with no financial details given.
eve Sleep made the statement in response to press reports. The Sunday Times said the two were in early talks over a merger, with both currently struggling to turn a profit.
In July, eve Sleep said its underlying earnings before interest, tax, depreciation, and amortisation loss in the six months to June reduced 50% to GBP5.9 million, as the company refocused onto three core markets.
eve Sleep guided for revenue to return to growth in the second half, after first half underlying revenue slipped 8% to GBP12.9 million.
