LONDON (Reuters) – Britain’s Currys has received an improved 750 million pound ($951 million) bid from U.S. suitor activist investor Elliot Advisors, Sky News reported on Tuesday, pushing up shares in the British electricals group amid hopes of a takeover battle.
Shares in Currys jumped 2.7% to 68 pence in late morning trading – around the 65 pence to 70 pence per share level of Elliot’s second potential approach according to Sky News which cited sources.
Chinese online retailer JD.com has also said it is considering a possible takeover of Currys, a retailer which sells fridges, washing machines, computers and other electricals in Britain, Ireland, Sweden, Norway, Denmark and Finland.
Britain’s takeover regulator has given the bidders until mid-March for them to make firm offers or walk away. News that Currys was in play emerged on Feb. 17.
Elliot Advisors declined to comment, while Currys did not immediately respond to a request for comment from Reuters.
($1 = 0.7883 pounds)
(Reporting by Sarah Young in London and Eva Mathews in Bengaluru; Editing by Sonia Cheema and James Davey)
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