A potential offer to buy Laura Ashley by a US private investment company has been branded “unsolicited and highly opportunistic” by the fashion and furnishing giant.
MyNewtown reported yesterday how Flacks, a Florida based investment company, was at the early stages of considering making a bid for the company which was founded at Carno and still has its warehouse, administrative and other facilities in Newtown.
In a statement to the London Stock Exchange, Laura Ashley said: "We strongly believe that the offer fails to reflect the value of the Laura Ashley brand and hence the fair value that shareholders deserve for their investment in the group."
"We also note that Flacks have indicated that the price of 2.748p per ordinary share is final and will not be increased or decreased."
Laura Ashley chairman Andrew Khoo, said: "Opportunistic and unsolicited offers that are speculative in nature, and playing to a short term market that creates unnecessary volatility to the share price, are not welcome."
