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05 Feb 2021 | 08:19

French Connection in talks with two potential suitors

(Sharecast News) - French Connection shares surged on Friday after the clothing retailer said it was in talks with two potential suitors. Responding to a jump in its share price on Thursday, the company said it has received an approach from Spotlight in conjunction with Gordon Brothers International, and Go Global Retail in conjunction with HMJ International Services.

Discussions with both parties are still "at a very early stage", it said. As a result, there can be no certainty that an offer will be made, nor as to the terms on which any offer might be made. However, it did say any offer is likely to be in cash.

"Further announcements will be made as appropriate in due course," the fashion retailer said.

Both parties now have until 5 March to either make a firm offer for French Connection or walk away.

At 0830 GMT, the shares were up 38% at 21.60p.
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