UK-listed Frasers Group has emerged as the leading contender to acquire department store chain Harvey Nichols, Sky News reported.
The takeover is expected to involve Harvey Nichols briefly entering administration, with FTI Consulting lined up to act as insolvency practitioner under a pre-pack administration arrangement.
Next, which has been vying with Frasers for control of Harvey Nichols over recent weeks, retains the option of raising its offer, although sources indicated this was seen as unlikely with a final decision now close at hand.
If the acquisition proceeds, it would end 35 years of ownership under Hong Kong billionaire ***** son Poon, who bought the retailer in 1991.
Harvey Nichols dates back to 1831, was listed on the London Stock Exchange in 1996, and subsequently returned to private ownership.
#harvey
The takeover is expected to involve Harvey Nichols briefly entering administration, with FTI Consulting lined up to act as insolvency practitioner under a pre-pack administration arrangement.
Next, which has been vying with Frasers for control of Harvey Nichols over recent weeks, retains the option of raising its offer, although sources indicated this was seen as unlikely with a final decision now close at hand.
If the acquisition proceeds, it would end 35 years of ownership under Hong Kong billionaire ***** son Poon, who bought the retailer in 1991.
Harvey Nichols dates back to 1831, was listed on the London Stock Exchange in 1996, and subsequently returned to private ownership.
#harvey
5 days ago
