Mulberry's Major Shareholder Rejects Frasers Group's £111m Takeover Bid

Challice Ltd., which holds a controlling stake in Mulberry, has firmly opposed the increased offer from Frasers Group, citing timing concerns.

Mulberry's largest shareholder, Challice Ltd., has rejected Frasers Group's revised bid of £111 million, maintaining its stance against selling its shares.
Frasers Group, led by Mike Ashley, increased its offer to 150p per share after an initial bid of 130p was declined, valuing Mulberry at £111 million.
Challice, controlled by Singaporean billionaires Ong Beng Seng and Christina Ong, holds a 56.4% stake, effectively blocking any takeover without its consent.
The Mulberry board is considering the offer with financial advisers but has not made a formal recommendation amid ongoing financial struggles.
Frasers Group has until October 28 to make a firm offer under City takeover rules, but Challice hopes its clear stance will deter further bids.