The British handbag maker Mulberry has rejected an £83m takeover proposal from Mike Ashley’s Frasers Group as too low, insisting instead that it would push on with a planned fundraising to support a turnaround.
The luxury brand said it had considered the approach carefully and consulted its 56.1% majority shareholder Challice, controlled by the Singaporean entrepreneur Christina Ong, who had “no interest” in pursuing the possible offer.
