Newspaper article International New York Times

Conforama Ends Bidding War with Fnac for Darty

Newspaper article International New York Times

Conforama Ends Bidding War with Fnac for Darty

Article excerpt

Conforama, the French household goods unit of Steinhoff International Holdings, said it would not try to match Groupe Fnac's increased offer.

The bidding war for Darty, the French electronics and appliance retailer, appears to be over.

Conforama, the French household goods unit of Steinhoff International Holdings, said on Wednesday that it had no plans to raise its offer for Darty after Groupe Fnac made a final bid for the retailer on Monday.

Fnac and Conforama have been entwined in a battle for Darty, with each offering escalating bids last week.

On Monday, Fnac said it was willing to pay 914 million pounds, or about $1.3 billion, in cash for the London-listed retailer, or 170 pence a share. Fnac also said at the time that it owned or had agreements in place for investors to support its offer, equivalent to 41. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.