It has been reported that fashion retailer Burberry has rejected several takeover bids from Coach, the US fashion accessories brand.
Valuing the company at £20 billion, Burberry received various offers from its larger US competitor for a cash-and-stock takeover. Despite the company’s share prices struggling in the first half of the year, they climbed a third a low point in June and Burberry now has a market value of £6.2 billion.
Also, chief executive, Christopher Bailey will be replaced by Marco Gobbetti next year.
