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Pin to quick picksKingfisher Share News (KGF)

Share Price Information for Kingfisher (KGF)

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Share Price: 263.50
Bid: 263.50
Ask: 263.60
Change: -1.90 (-0.72%)
Spread: 0.10 (0.038%)
Open: 265.30
High: 265.50
Low: 262.70
Prev. Close: 265.40
KGF Live PriceLast checked at -

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UPDATE 1-Bricorama offers 15 euros per share to buy Mr Bricolage

Fri, 11th Sep 2015 11:29

(recasts with confirmation of Bricorama approach)

PARIS, Sept 11 (Reuters) - French Do-It-Yourself chainBricorama said it had made an approach to take overFrench rival Mr Bricolage with a 15 euros per shareoffer, valuing the company at around 155 million euros ($175million).

The move announced on Friday comes six months afterKingfisher, Europe's largest home-improvement retailer,ditched a planned purchase of Mr Bricolage amid concerns overthe number of store closures that would have been required toclear antitrust hurdles.

Bricorama said in a statement that on Sept 1 it hadapproached ANPF, which holds 41.9 percent of Mr Bricolage, andthe founding Tabur family, which holds 26.2 percent of it, tocombine the two groups and create a key player on the French DIYmarket.

It added that it got no feedback from the rival yet.

Bricorama's 15 euros per share offer matches the 15 euros Kingfisher had offered ANPF and the Tabur family to buy theirholdings.

By 1125 GMT Mr Bricolage shares were up 12 percent at 14euros. ($1 = 0.8880 euros) (Reporting by Dominique Vidalon; Editing by Mark Potter)

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