Elliott Advisors said to have sweetened offer for Currys to £750m

27th Feb 2024 11:42

(Sharecast News) - Currys confirmed on Tuesday that it had received and rejected a sweetened takeover approach from US investment firm Elliott Advisors.

Responding to press speculation, the electricals retailer said that Elliott made an approach at 67p a share, up from 62p.

"The board of Currys considered the second Elliott proposal, together with its financial advisers, and concluded that it significantly undervalued the company and its future prospects," it said.

Currys said there can no certainty that an offer will be made nor as to the terms on which any offer might be made.

Last week, Chinese e-commerce giant JD.com announced that it was in the early stages of considering an offer for Currys.

At 1440 GMT, the shares were down 0.9% at 66.15p, having rallied earlier on the back of a Sky News report.