Laura Ashley has confirmed that it has not received any takeover offers following media speculation that Michael Flacks is interested in taking the company private.
The move follows an article in The Telegraph in which it was reported that Mr Flacks was to approach Laura Ashley’s Malaysian controlling shareholders regarding a potential takeover bid.
In response to the rumours, Laura Ashley chairman Andrew Khoo said that the company’s major shareholders had no intention of ridding their shareholding in the business.
Mr Khoo added: "As far as I am concerned, there is no takeover bid because there has been no approach whatsoever. If and when an approach is made, the board will discharge its duties as always and assess it on its relative merits.
“Whilst I understand why potential parties would think we are significantly undervalued, I have complete confidence that we will be able to grow profitably and in a sustainable manner so as to create long-term value for our shareholders. We remain just as committed and passionate about this well-loved brand as when we first decided to invest in Laura Ashley over 20 years ago.”
