Frasers Group has abandoned its takeover attempt of Mulberry but renewed its efforts to secure a boardroom seat so it can wield greater influence over the British luxury brand. The Mike Ashley-owned retail group said it does not intend to make a formal offer for the luxury goods seller after its proposals were rebuffed by the Mulberry board and its biggest shareholder, Challice. However, the Sports Direct owner said it hoped Mulberry would “engage positively” on a Frasers appointee to its board, “a request that has been made several times in recent history”.
Mulberry has repeatedly spurned recent attempts by Ashley to secure a voice in its boardroom after he became frustrated by what he viewed as a lack of transparency around the running of the business..
