Currys upped its profit guidance today after a stronger-than-expected start to 2024, in a move that appears to vindicate its board's decision to rebuff three takeover approaches from two different firms in the last month.
Chinese online retailer JD.com and American investment firm Elliott Partners looked to be in a bidding war for the high-street giant, but hopes of a takeover were dashed last week when both would-be buyers pulled out of the running. Elliott had made two bids, the second valuing Currys at £757 million, but the retailer’s board said both were too low. JD.com didn't submit a formal bid, but did make a preliminary approach.
