Superdrug owner sends details to shareholders
AS Watson Group has formalised its offer made on May 24 for Merchant Retail Group, owner of The Perfume Shop.

International health and beauty retailer AS Watson, which owns Superdrug in the UK, posted the offer document, containing the full terms and conditions, to Merchant's shareholders.

Merchant's board has recommended the 197p-a-share offer, which values the company at£221 million.

AS Watson is owned by Hong Kong trading house Hutchison Whampoa.