Luxury giants mull big deal
The UK’s largest luxury goods brand, Burberry, was being circled by US rival Coach for a potential takeover, it has been revealed.
According to the FT, Burberry rejected multiple takeover offer over the last couple of months.
The deal could have created a global market value of over $20bn. The offer made included combining Coach’s leather goods, handbags and shoemaker Stuart Weitzman with Burberry’s luxury outerwear arm.
According to media reports, the talks are no longer active between the two retail giants.
Coach was working with three investment banks including independent advisory group Evercore Partners for the deal while Burberry was being advised by London-based advisory firm Robey Warshaw.