Frasers Group Increases Stake in Takeover Game for Mulberry

The Frasers Group, led by Mike Ashley, has made a new attempt to gain full control over the Mulberry Group. After the British luxury handbag brand rejected the initial takeover offer, Frasers has now submitted a revised proposal. Currently, the Frasers Group already holds a 37 percent stake in Mulberry and has now submitted a non-binding indicative offer of 150 pence per share for the remaining shares. This values the company at approximately 111 million pounds (about 145 million dollars) in total. By comparison, Mulberry's market capitalization currently amounts to about 79.3 million pounds. Frasers' new move underscores Ashley's determination to advance his expansion in the luxury goods segment.