Mulberry Rejects Mike Ashley’s £83m Takeover Bid

The British luxury brand faces financial struggles and a power struggle between major shareholders.

Mulberry has turned down an £83 million offer from Mike Ashley's Frasers Group, citing undervaluation.
Majority shareholder Challice Limited, owning 56.1% of Mulberry, also opposes the bid.
Mulberry's financial woes include a pretax loss of £34.1 million and an 18% drop in sales year-on-year.
Frasers Group, holding a 37% stake in Mulberry, aims to elevate its retail empire by acquiring luxury brands.
New CEO Andrea Baldo is tasked with reviving Mulberry amid a broader luxury market downturn.