The Alliance family, who helped create the home shopping conglomerate, is planning to take N Brown private after putting in a recommended US $ 249.25 million offer for the company.
The transaction is practically guaranteed to be successful because the Alliance family currently owns over 60% of N Brown’s shares.
Concerns regarding N Brown’s current status were voiced by the family in a statement, pointing to “very low trading liquidity” and minimal investor interest in small-cap consumer stocks on the AIM market.
The group is “not benefitting from being listed,” according to the offer, and it is also suffering significant expenditures associated with its listed status. The independent directors of the group plan to unanimously recommend the cash offer.
The Alliance family hopes to strengthen its market position as the takeover goes on by utilising N Brown’s well-known fashion brands and cutting-edge financial services platform.