(Reuters) – ASOS shares soared on the London Stock Exchange on Monday after The Times newspaper reported on Saturday that the British group had been the subject of a takeover bid by Turkish retailer Trendyol.
As of 08:45 GMT, ASOS stock is up 12.7% to 394.8p, having climbed as much as 15.1% in early trade, outperforming the STOXX 600 index.
According to The Times, citing multiple sources, ASOS has received a £1 billion (€1.16 billion) takeover bid from Trendyol.
The Turkish group, a subsidiary of the Chinese online sales giant Alibaba, worked with Morgan Stanley bank on the operation, adds The Times.
ASOS was approached at the end of December, offering a valuation set at between 10 and 12 pounds per share, the newspaper said.
“Looking at ASOS’ market cap, it’s less than £500m, and the deal values ASOS at more than double its current price,” said room manager Christopher Peters. Accendo Markets markets.
“From an investor’s point of view, if the offer is as large as it seems, it’s exciting”, he added, stressing nevertheless that it was only a question for the moment. speculations.
(Written by Augustin Turpin, edited by Blandine Hénault)
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