×
385
Fashion Jobs
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager /Sales Manager/Jharkhand
Permanent · Giridih
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager /Sales Manager/Jharkhand
Permanent · Deoghar
HDFC SECURITIES
Area Sales Manager Hdfc Securities Pvt.Ltd. Surat
Permanent · Surat
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales - Kallakurichi
Permanent · Viluppuram
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager /Sales Manager/Jharkhand
Permanent · Ranchi
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager /Sales Manager/Jharkhand
Permanent · Simdega
TUOREN MEDICAL DEVICES INDIA PVT LTD
Area Sales Manager And Sales Executive
Permanent · Hubli
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Samastipur
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Madhepura
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Nawada
ARKRAY HEALTHCARE PVT. LTD
Opening For Medical Business Manager(mr)- Delhi Chennai & Bangalore
Permanent · Chennai
TOUCH MOBILES
Wanted Showroom Manager, Sales Exe & Cashiers - Touch Mobiles
Permanent · Khammam
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Katihar
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager(Haryana)
Permanent · Sirsa
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Araria
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager(Haryana)
Permanent · Ambala
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager(Haryana)
Permanent · Sonipat
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Sitamarhi
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Buxar
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Aurangabad
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Rajasthan)
Permanent · Sri Ganganagar
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sale Manager(Uttarakhand)
Permanent · Dehradun
By
Reuters
Published
Jul 28, 2014
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Destination Maternity gives up chase for UK's Mothercare

By
Reuters
Published
Jul 28, 2014

U.S. baby product retailer Destination Maternity gave up its pursuit of Britain's Mothercareafter having two bid proposals rejected.

Earlier this month Mothercare confirmed it had spurned Destination Maternity's increased proposal that valued the UK firm at 266 million pounds, or $453 million (266.8 million pounds).


That proposal on June 1 was the latest example of a U.S. company seeking to buy a foreign firm in part to take advantage of lower corporate tax rates abroad.

"We are disappointed that the shareholders of Mothercare have not supported our proposal and that the board of Mothercare was unwilling to allow us to conduct customary due diligence and engage in discussions," Chief Executive Ed Krell said in a statement on Friday.

Destination Maternity's shares were unchanged at $22.95 in afternoon trading, valuing the company at about $315 million.

The company said it had hoped that the combination of the two companies would create the largest maternity, baby and children's products retailer.

Under Britain's takeover rules Destination Maternity had until July 30 to announce a firm intention to make an offer for Mothercare, or walk away.

Mothercare, hit hard by cut-price competition from supermarket groups and online retailers in its main UK market, said on Friday its Chief Financial Officer Matt Smith had resigned, months after its Chief Executive Simon Calver quit.

Mothercare had aimed to make a profit on its British operations by 2015, but said in January that 2016 to 2017 was now more realistic.

Destination Maternity, which operates 1,901 stores across U.S. and Canada and grappling with falling sales, said earlier this month its full-year earnings would be below its forecast.

The company, which is shutting a number of underperforming stores, reported a 5.5 percent fall in third-quarter sales.

© Thomson Reuters 2021 All rights reserved.

Tags :
Others
Retail