Mulberry Group plc (MUL.L) said its Board is unanimously of the view that the Possible Offer from Frasers Group plc is untenable. On 11 October 2024, Frasers announced its unsolicited revised possible cash offer, at 150 pence per Mulberry share. The Board has also considered the clear position of Challice, the company's majority shareholder, that it will not sell its Mulberry Shares to Frasers or support the Possible Offer.
The Board said Frasers, through its participation in the company's recent fundraising, has shown itself to be supportive of maintaining the value of the Mulberry brand. The Board looks forward to further interactions with Frasers in the future.
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