British electrical retailer Currys experienced more rejection Friday.
British electronics chain Currys experienced more rejection Friday with Chinese online retailer JD.com walking away from a takeover race for the firm
In a brief statement Friday afternoon, JD.com said it would no longer pursue an offer for the High Street brand, less than a month after entering the running.experienced more rejection Friday with Chinese online retailer JD.com walking away from a takeover race for the firm, just days after Elliott Investment Management did the same.Friday afternoon, JD.com said it would no longer pursue an offer for the Main Street brand, less than a month after entering the running.
"JD.com today confirms that, following careful consideration, it does not intend to make an offer for Currys," it said.Currys shares plunged more than 10% on the announcement, before paring losses slightly. The stock was trading down 4.4% by 2:50 p.m. London time.The electronics retailer, which operates more than 820 stores across eight countries, has become the subject of a possible takeover as it has struggled in the face of increased competition and depressed consumer spending.
Success requires ‘ample doses of pain,' billionaire Nvidia CEO tells Stanford students: ‘I hope suffering happens to you'The U.S. investment firm, via its affiliate Elliott Advisors, said that following"multiple attempts to engage with Currys' Board, all of which were rejected," it was not making an improved offer for the U.K. company.Pennsylvania
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