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Pin to quick picksKingfisher Share News (KGF)

Share Price Information for Kingfisher (KGF)

London Stock Exchange
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Share Price: 248.70
Bid: 248.90
Ask: 249.10
Change: 4.70 (1.93%)
Spread: 0.20 (0.08%)
Open: 245.40
High: 249.30
Low: 243.80
Prev. Close: 244.00
KGF Live PriceLast checked at -

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Kingfisher looking at options with Mr Bricolage deal now uncertain

Thu, 26th Mar 2015 15:33

B&Q owner Kingfisher said it is "considering all of its options" in regards to its proposed acquisition of Mr Bricolage after the French DIY chain and a major shareholder revealed they had reservations about the deal.Kingfisher, which first announced last April that it wanted to buy the retailer, said it has been working closely with the board of Mr Bricolage, competition authorities and major shareholders ANPF and the Tabur family, which hold 41.9% and 26.2% stakes, respectively.The UK group, which already operates as Castorama and Brico Dépôt in France, is offering ANPF and the Taburs €15 per share for Mr Bricolage, valuing it at a total enterprise value of €275m. It will then make a mandatory offer to minority shareholders.However, while the Tabur family is still said to be committed to the transaction, ANPF and Mr Bricolage's board are now having reservations.Kingfisher said on Thursday: "At a late stage Mr Bricolage and the ANPF indicated that the undertakings in France required to obtain the competition clearance were no longer in their interests. Without the consent of Mr Bricolage and the ANPF, the competition clearance undertakings necessary to finalise the transaction cannot be given."The company added: "Kingfisher is considering all of its options."Mr Bricolage's shares were suspended on the French stock exchange earlier in the week, prompting Kingfisher to release a statement in which it said the "implications for the transaction are currently uncertain".Kingfisher's stock was down 1.4% at 359.1p by 15:50.
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