Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Bidding war coming
https://www.prolificnorth.co.uk/news/prettylittlething-founder-umar-kamani-considering-topshop-purchase/
To quote someone over on the boohoo chat..,
For all we know asos could actually turn a profit on this sale.....
480 million mcap company potentially selling a small part of the company for "hundreds of millions"....
There could be some sector rallies should this be a true story.
“ The plunge in value has fuelled speculation that the business could be taken private by one of a handful of investors, with Mike Ashley and Danish billionaire Anders Holch Povlsen among rumoured suitors.”
Oh very clever, it’s been ‘leaked’ to The Telegraph that it’s Forever 21 / Shein!
What a great move - announce that you are in talks with F21 / Shein to sell the bit that Ashley really wants!
Amazing.
Jose is more clever than I thought. Big tick and a gold star.
https://www.telegraph.co.uk/business/2023/10/28/asos-talks-sell-topshop-us-retail-powerhouse/
This could be to force Ashley’s hand. They must be annoyed he owns such a huge chunk of the WHOLE company, getting that so cheap. So perhaps this a PR stunt to sell Topshop (obviously the bit he wants most) and then watch to see how he reacts. Get two bidders on it and kills 2 birds with one stone, a huge cash injection for a minor bit of the business and perhaps, just perhaps, Ashley departs the overall picture.
It’s a genius move actually.
Looks like an imminent bidding war for Topshop off asos (very clever move by asos)…. Is boohoo in a position to go for that one.
Very stiff competition.
Watch those shortest squirm
If there is a squeeze on this up to Wednesday results and announcement this could be immense for the SP.
The current market cap of asos at £460m (which is ludicrous)
They paid £265m for topshop
If they sell topshop for around that price or even around the 200 mark it will make a mockery of the current company valuation.
This is wonderful news
Love this. Investment in boo and ASOS “still mid flight” and he ain’t allowed to tell what their cunning plan is. I love this. All ready for BOOM!
Chief executive Michael Murray fuelled takeover speculations earlier when described the group’s investments into Asos and Boohoo, as well as Currys and AO, as “mid-flight”.
Still, on the shopfloor of Sports Direct in Oxford Street, Mr Murray insists he is calling the shots.
The decision to buy stakes in a host of other retailers was driven by him, he said. Why?
“I’m not allowed to say,” he said, describing the investments as “mid-flight”.
“All I can do is talk about how it looks very obvious afterwards. [Luxury department store] Flannels was an acquisition, and now it seems normal that Flannels is a part of Frasers Group. And Game, you think: why would you buy 30pc of Game? Afterwards, it’s all very obvious.”
https://www.telegraph.co.uk/business/2023/10/08/making-decisions-frasers-not-mike-ashley-michael-murray/
Mid flight!
This is great to hear!
Goldman Sachs buying more despite issuing a sell rating?!
That usual Friday afternoon spike
Not predicable at all is it? ;)
All this horrendous weather in Scotland and the north of England and wales forcing people to stay at home today and tomorrow… all bored frustrated people itching to go clothes shopping, going online to asos instead.
Might be wishful thinking but the analyst on Sky News Ian King programme just said although retail sales fell there is a growing surplus in savings again like in lockdown and this might not just be people putting cash by “just in case”, they are keeping aside for big retail events coming up - Black Friday, Christmas, Jan sales etc
Let’s hope so.
Asos and boohoo rose 2.0% and 2.8% respectively. Frasers Group lifted its stakes in the online clothing retail duo, according to filings on Monday.
The Sports Direct owner increased its holding in Asos to 22.8% from 19.7%, and raised its stake in boohoo to 15.1% from 13.4%.
Both online fashion businesses have suffered share price declines over the past year, potentially providing an attractive buying opportunity.
AJ Bell analyst Russ Mould commented: "Frasers loves a bargain and clearly sees an opportunity to have influence over boohoo's strategy, possibly as another avenue to sell its range of athleisure brands. But equally, Frasers might be viewing this simply as a way to make a quick buck – a chance to buy shares on the cheap and then flip them should see the online retailer be successful in its turnaround efforts."
Asos and boohoo rose 2.0% and 2.8% respectively. Frasers Group lifted its stakes in the online clothing retail duo, according to filings on Monday.
The Sports Direct owner increased its holding in Asos to 22.8% from 19.7%, and raised its stake in boohoo to 15.1% from 13.4%.
Both online fashion businesses have suffered share price declines over the past year, potentially providing an attractive buying opportunity.
AJ Bell analyst Russ Mould commented: "Frasers loves a bargain and clearly sees an opportunity to have influence over boohoo's strategy, possibly as another avenue to sell its range of athleisure brands. But equally, Frasers might be viewing this simply as a way to make a quick buck – a chance to buy shares on the cheap and then flip them should see the online retailer be successful in its turnaround efforts."
As always, there we are, without fail!
How could anyone possibly suggest it’s being manipulated in any way!
Morale must be pretty bad there, you’d think at these levels the directors might consider some sort of buy back operation - A to help the big guy take it private and B to give the employees a bit extra on the battered SP if they all took part at a quid!
In tatters!
Https://www.manchestereveningnews.co.uk/news/mike-ashleys-retail-empire-planning-27869979
Shot up again!!
The Mail know somethings happening here. Top story in the financial section.
Mahmud needs to act very quickly.
His son recently bought 3 per cent
I see a family buy back if they can afford to do so
If not Ashley now in control and he’ll buddy up with an institution to get this on the cheap.
Mark my words
All will happen very very quickly now
Well I work at BBC Radio Manchester and I have to say there is a lot of chatter up on the 3rd floor above us in the new work and money team about this ‘going private’ as much as to say a journalist is working on it as a story.
Watch this space.