(Alliance News) - According to the Sunday Times, Asos PLC received a takeover approach from a Turkish company backed by China's Alibaba Group Holding Ltd late last year. The deal would have valued Asos at more than GBP1 billion. "Takeover interest often emerges when a broken company lays out a recovery plan and there are early signs it is working. That goes to show its recovery plan is still in the very early stages and that it remains vulnerable to further takeover interest while the share price remains in the doldrums," he said. Asos will drop out of the FTSE 250 index from Monday, June 19, having been demoted at the quarterly review last week.

Source: The Times June 05, 2023 11:46 UTC