Burberry soars on rumours of suitors
Sunday 12 December 2010
Shares in Burberry soared to a record last week on persistent rumours that a bidder is circling the luxury retailer.
Burberry, famous for its check design and trench coats, saw its share price leap above £12 on Wednesday amid rumours of interest from Chinese investors. Burberry's share price has rocketed 96 per cent this year on the back of excellent sales growth but also on speculation that a number of global suitors are eyeing up the group. The PPR, the French owner of Gucci, and Coach, a US fashion and leather company, have been mentioned as predators but PPR denied it is interested. Burberry's shares closed down at £11.08 on Friday.
Also in the luxury sector, Deminor, a French shareholder consultancy, revealed it had written to LVMH asking for an explanation for its surprise 17.1 per cent stake building in Hermès. The stake-building has already been referred to the French bank regulator, ACP.
The family shareholders of Hermès agreed last week to place more than 50 per cent of the shares in a holding company to protect the luxury house from future takeover threats. The plan is awaiting regulatory approval.
Hermès family shareholders comprising the Guerrand, Puech and Dumas families make up 73 per cent of the shareholding.
Diving in at the deep end is no excuse for shirking the style stakes
- 1 Stephen Fry ‘criticises Operation Yewtree in dinner party rant’ calling for tougher laws to deter false sex abuse allegations
- 2 Why I'm on the brink of burning my Israeli passport
- 3 Israel-Gaza conflict: ‘Sderot cinema’ image shows Israelis with popcorn and chairs 'cheering as missiles strike Palestinian targets'
- 4 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
- 5 War is war: Why I stand with Israel
Ian Thorpe gay: Olympic swimmer comes out in Parkinson interview
Gaza-Israel conflict: Pro-Palestinian demonstrators take to streets of London, Paris and New York in wave of protests
Israel-Gaza conflict: ‘Sderot cinema’ image shows Israelis with popcorn and chairs 'cheering as missiles strike Palestinian targets'
Israel-Gaza conflict: Israeli air strike destroys home for the disabled killing two women residents
Israel-Gaza conflict: Israeli PM says conflict may 'continue for a long time' as hundreds of Palestinians flee their homes
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Australia facing international condemnation after turning around Sri Lankans at sea
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
iJobs Money & Business
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...