×
196
Fashion Jobs
3FATE TECHNOLOGIES PVT LTD
Production Manager-Garment Manufacturing- Saree, Salwar Suit & Lehenga
Permanent · Kanpur
PUMA
Manager- Ecommerce Operations
Permanent · Bengaluru
PUMA
Warehouse Manager-D2C
Permanent · Bengaluru
PUMA
Digital Marketing Manager
Permanent · Bengaluru
EXPLODE SERVICES
Quality Assurance Manager Home Furnishing Garments For Noida
Permanent · Noida
EXPLODE SERVICES
Manager ie Garment Exports
Permanent · Noida
THE BANYAN HR CONSULTS
Merchandising Manager For a Seamless Garments Textile co at Coimbatore
Permanent · Coimbatore
OPERA CLOTHING PRIVATE LIMITED
Production Manager For Garment Manufacturing Factory
Permanent · Vapi
NIKE
Lead Technical Product Manager, ed&a – Apla
Permanent · Bengaluru
NIKE
Senior Security Incident Responder – Cis
Permanent · Bengaluru
FAABIIANA
Executive For Online Product & Order Management
Permanent · NEW DELHI
FAABIIANA
Customer Sales Executive (Female)
Permanent · NEW DELHI
NIKE
Senior Technical Product Manager, Inventory & Order – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Finance – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Core Erp – Apla
Permanent · Bengaluru
NIKE
Senior Technical Program Manager, Marketing Tech – Dtpo
Permanent · Bengaluru
NIKE
Service Delivery Manager, Operations Center – Tech Ops
Permanent · Bengaluru
NIKE
Director, Security Solutions & Delivery – Cis
Permanent · Bengaluru
NIKE
HR Manager - Nike India Technology Centre
Permanent · Bengaluru
NIKE
Financial Controller - India
Permanent · Bengaluru
NIKE
Software Engineering Manager, Finance & Procurement Technology – cf&c
Permanent · Bengaluru
NIKE
Service Delivery Manager, Sap & Omdl (Order Management & Delivery) – Tech Ops
Permanent · Bengaluru
By
Reuters
Published
Aug 27, 2012
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Marks & Spencer bid talk boosts shares

By
Reuters
Published
Aug 27, 2012

Persistent bid rumours surrounding British clothing and food stores chain Marks & Spencer Plc pushed its shares up over 4 percent on Friday, as a media report added to speculation that private equity could be getting ready to swoop.


Photo: Marks & Spencer


CVC Capital Partners CVC.UL has already explored taking the company private, Bloomberg said, citing people close to the matter, but added that the firm is not thought to be currently pursuing a bid.

M&S shares closed up 3.9 percent at 370.5 pence, the biggest gainer and the most actively traded stock in the FTSE 100 index .FTSE, with several traders attributing the rise to the report. The stock hit a peak of 385.9p, its highest since March.

However, a source familiar with CVC's thinking said prospects of a deal happening remained uncertain. "If I were you, I would not spend too much time on this," the source told Reuters.

M&S shares have risen around 10 percent since the beginning of August amid reports of private equity or sovereign wealth fund interest.

In May the 128-year-old group posted its first drop in annual profits in three years, as even its relatively older and more affluent shoppers feel the chill of recession in Britain.

The company's strong brand could help make it a logical target for a leveraged buyout, said market watchers who closely follow M&S. Private equity firms like CVC, Advent, Lyons Capital and Bain have all looked at it, they said.

However, with a market capitalisation of around 5.7 billion pounds ($9 billion), any prospective buyer of the firm would need deep pockets at a time when the euro zone crisis means debt markets remain tight.

CVC would not be able to go it alone and would need to build a consortium of funds, a sector banker said, but may be shrewd to position itself now so as to be ready to make a move when funding conditions become more attractive.

Alternatively, a deal may come from across the Atlantic, with U.S. funds such as KKR and Carlyle having access to better funding than their European peers and looking for sizeable deals of this kind, said a London-based hedge fund manager.

A spokeswoman for Marks & Spencer said the company would not comment on rumour and speculation.

© Thomson Reuters 2022 All rights reserved.