Shares rocket on rumours of buy out
Peacock Group has received an indicative approach that may lead to an offer for the company. The retailer has not specified who made the approach.
The retailer revealed it was in talks regarding a possible offer after its shares shot up. This morning Peacock shares rose 9.4 per cent to 310.75p.
Peacock Group received a preliminary bid approach in March, thought by City analysts to be an attempt by management to take the company private and led by chief executive Richard Kirk, who brought the company to the market in 2000.
Last month, the value fashion retailer, which operates Peacocks, Bonmarché and Fragrance Shop, posted a 10 per cent rise in total sales for the 13 weeks to July 2. Like-for-like sales for the period were also up 2.5 per cent.
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