Mike Ashley’s retail empire Frasers Group has scrapped plans for a £111 million takeover of British luxury handbags and fashion brand Mulberry.
In a statement to the stock exchange Frasers said the “disappointing” rejection of its 150p a share offer proposals both from the board of Mulberry and its biggest shareholder, the Singaporean investor Challice, meant “it is choosing to bring the offer period to an end.”
