£400 million price for value fashion retailer
Peacock Group has recommended a management buy-out, which values the value fashion specialist at£404.4 million.

The offer comes from buy-out group Henson No 1. If the deal goes ahead, Peacocks executive directors - chief executive Richard Kirk, finance director Keith Bryant and operations director Neil Burns - will own 43.3 per cent of Henson.

Peacocks chairman Gavin Simonds said: 'We believe that the proposals represent fair value for the business. Having undergone the process of assessing other potential alternative acquirers of Peacock and after careful consideration, the independent directors are unanimous in recommending shareholders vote in favour of the proposals.'

The retailer unveiled strong sales for the 13 weeks to October 1, despite the slowing consumer market. The retailer operates Bonmarché and The Fragrance Shop, as well as eponymous stores.