(Alliance News) - Shares in Superdry PLC surged on Friday, after the Times reported that takeover talks are heating up, following a difficult year for the embattled firm. On Wednesday this week, Norwegian-based investment fund First Seagull bought a 5.3% stake in Superdry, according to regulatory filings. On Friday, the Times reported that First Seagull considers Superdry "to be ripe for a bid." https://www.thetimes.co.uk/article/hedge-fund-builds-stake-in-superdry-ppf03xxbjOn Monday this week, Superdry confirmed it is working with advisors to consider "the feasibility of various material cost saving options". On Friday last week, Superdry released its interim results, saying challenging markets and poor weather had hurt earnings.

Source: The Times February 02, 2024 10:07 UTC