ASOS said to be eyed by Amazon and eBay; investor Bestseller rumoured to have been approached
The share price of ASOS, the online fashion retailer, leapt 7.6% yesterday amid rumours of an approximately GBP 50 (USD 83)-per-share takeover bid, The Daily Mail reported. The market report said dealer chatter suggested Bestseller, a family owned Denmark-based clothing company, had been contacted by a North American group regarding the potential sale of its 27.4% stake.
The e-commerce giants Amazon, based in Seattle, Washington, and San Jose, California-headquartered eBay are thought to be interested in ASOS, the report said, noting that both are keen to expand their clothing offerings. A Daily Express market report which also named the two US prospective bidders said Bestseller might be interested in making an offer itself.
The Mail item reported that Nick Robertson, chief executive and founder of ASOS, is believed to be engaged in divorce proceedings with his estranged wife Janine and may be tempted to listen to highly priced bid offers, the report said. It stated that he is believed to have a fortune worth more than GBP 440m and owns 9.3% of ASOS.
A Times market report mentioned rumours that Robertson could be close to disposing of part, if not all, of his holding.
ASOS shares ended the day’s trading at 2348p yesterday, 26 August, the report said, noting that the share price hit a 7195p high five months ago. The company has a GBP 1.96bn market cap.
Source Daily Mail, Daily Express, The Times