French Connection in sale talks
The Retail Gazette in the UK reported that French Connection has begun discussions with four potential bidders regarding a sale. The developments come two weeks after the British fashion retailer revealed it had started looking for a buyer, with founder Stephen Marks ready to sell his 42% stake in the business he began in 1969. The size of Marks’ stake means that any sale would trigger a takeover offer for the whole group. Shares in French Connection rose 45% on the back of the news on October 8, and 10% again on October 19 after the retailer said in a stock market statement that sales conversations were underway.