Saturday February 22, 2020

Burberry gains on speculation the trenchcoat maker may be a bid target

The luxury-goods maker is setting up defences against a potential takeover offer

8th March, 2016
Burberry shares gained 6.8% in London this morning Pic: Getty

Burberry jumped on speculation that the UK’s biggest luxury-goods producer is setting up defences against a potential takeover offer in response to stake building.

The stock advanced 6.8 per cent to 1,464 pence at 11:08 a.m. in London, the day’s highest price, boosting the company’s market value to £6.5 billion (€8.4 billion). Other luxury stocks also gained, with shares of Prada rising 6.2 per cent in Hong Kong.

Burberry asked its...

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