Updated February 17th, 2024 at 18:02 IST

Elliott plans around $880 mln bid for UK's Currys

Elliott Advisors has announced its planning to acquire UK based electrical retailer Currys

Reported by: Business Desk
Elliott plans around $880 mln bid for UK's Currys | Image:Elliott
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Acquisition plans: Investment management firm Elliott Advisors has announced its planning to acquire Currys, the UK based electrical retailer, for $881.9 million, according to a Sky News report.

It was unclear whether Elliott had made a formal proposal to the Currys board, the report added

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Last month, Currys forecast full-year profit ahead of market expectations after stable gross margins and cost savings offset a fall in underlying sales over the Christmas trading period.

Currys employs more than 15,000 people in the UK, trading from close to 300 stores.

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In 2021, the company rebranded under its current name, having absorbed shops operating under brands including PC World, Dixons and Carphone Warehouse.

Elliot Advisors declined to comment on the Sky News report, while Currys did not immediately respond to a Reuters request for comment.

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Last year, the US-based Elliott also offered bids for fashion chain Reis and cosmetics retailer The Body Shop, which did not go through.

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Published February 17th, 2024 at 18:02 IST