Mike Ashley Walks Away From Mulberry, for Now
The retail tycoon has the right to launch a takeover of Mulberry in 2021.
LONDON — British retail tycoon Mike Ashley is walking away from Mulberry after building up a stake so high that he was forced to make a bid, or leave the company be. But he could be back next year.
Ashley’s Frasers Group said in a statement to the London Stock Exchange on Thursday that it does not intend to make an offer for the British accessories brand.
As reported, Ashley had been given until Dec. 17 to make an offer or cease stockpiling shares in the company, which is majority owned by Christina Ong. Ashley’s Frasers Group has a 37 percent stake in the company.
Mulberry declined to comment.
It’s not the end of the dance between Ashley and Mulberry, however.
The Frasers statement said that the company reserves the right to make or participate in an offer, or possible offer for Mulberry, within six months of
Dec. 17, with the agreement of the board of Mulberry; if a third party makes an offer for the company, or if the main Mulberry shareholders decide to take over the company.
Last month, Frasers confirmed that