Revolution Beauty Group PLC - London-based cosmetics retailer - Receives takeover proposals from "a number of parties", to whom further access to due diligence materials may be granted. At the same time, the company is speaking to shareholders about an equity raise. It says it also is "making encouraging progress on its cost structure and go-to-market strategy". The update on the formal sale process that the company started in May follows confirmation by larger retailer Frasers Group PLC that it is taking part in the sale process and is considering an all-cash takeover offer. Frasers has a 29% stake in fast fashion retailer boohoo Group PLC, which trades as Debenhams and which in turn has a 27% stake in Revolution, making it Revolution's largest shareholder. boohoo has been at odds with both Frasers and Revolution over the past two years.
Current stock price: 7.76 pence, down 1.7% in London on Thursday
12-month change: down 68%
By Tom Waite, Alliance News editor
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Revolution Beauty (REVB)
Frasers Group (FRAS)
Boohoo (DEBS)
