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By
Reuters
Published
Apr 21, 2009
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Alexon rejects unsolicited bid approach

By
Reuters
Published
Apr 21, 2009

LONDON, April 21 (Reuters) - British fashion retailer Alexon Group Plc (AXN.L) said on Tuesday 21 April it had received an unsolicited bid from a unnamed third party to acquire the company and had decided to reject it.


Bay Clothing Spring 2009, one of the Alexon brands

Alexon, whose brands include Dash, Bay Trading and Ann Harvey, said no price or other terms were indicated in the offer.

The womenswear retailer noted the recent rise in its share price, which has doubled to 30 pence in the last week, and said it was confident that continuing with its current strategy was the best way to enhance shareholder value.

Alexon, which replaced its chairman, chief executive and several other board members last year, said in January it had raised its full-year operating profit outlook, helped by strong December sales. (Reporting by Kylie MacLellan; Editing by Jon Loades-Carter)

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