Stories were swirling the past month that Currys was going to be taken over by either Waterstones owner Elliot Advisors and Chinese online shopping giant JD.com but both potential deals fell through.
Currys however denied to sell off its Greek operations that trade as Kotsovolos to the Greek power generation and supply giant Public Power Corporation for £159m.
Of course, netting that, which Currys hopes to complete in April, will strengthen its balance sheet and, we’d think, bolster the price any potential buyer would have to pay.
Currys rejected a £700m takeover from activist investor Elliott Investment Management who owns Waterstones and then that was followed a few days later by a second bid from the firm worth around £750m, that was also rejected.
Shareholders think the business is worth £1 billion or more.
Quite where that leaves Currys is uncertain because despite the bids being rejected and buyers seemingly walking away, rumours persist that it is all still to play for, and these bids were lowballing the business in value.But it would appear that if over that one billion mark is reached, it’s very likely that the Currys business will be sold.
We guess time will tell.
1 billion quid they are holding out for – very much doubt that`ll happen, somewhat wishful thinking me thinks on their part.
The share price circ 2015 hit about 5 quid a share and been falling since then with several spurts upwards only to carry on heading South, now today they are about 62pence a share with a miserable 1.63% divi.
I wish them luck!