Luxury handbag maker Mulberry has rejected a takeover offer from Frasers (Mulberry/PA)Mulberry said its largest shareholder has rejected a fresh takeover approach from Mike Ashley’s Frasers Group for the luxury handbag maker. On Friday, Sports Direct owner Frasers Group tabled a sweetened £111 million approach to buy Mulberry. The group is majority shareholder with a roughly 56% stake in the company and would need to vote in favour for any takeover deal to be approved. Mulberry said that Challice “has no interest in either selling its Mulberry Shares to Frasers or providing Frasers with any irrevocable or other undertaking”. Mulberry shares were 20% higher on Monday morning.
