Noni B takeover period extended

 

noni bThe private equity owners of struggling fashion retailer, Noni B, have urged remaining shareholders to accept its takeover offer.

The offer period for Alceon’s off market $16.4 million bid closed on Friday, with the company holding 76 per cent of Noni B shares.

Alceon has now extended the offer period to November 21, and “all remaining Noni B shareholders are encouraged to accept the offer”, it said.

Noni B suffered a $2.1 million loss in 2013/14, with sales down 7.7 per cent.

Last week Noni B appointed former  head of Bras N Things, Scott Evans, as its new CEO


AAP

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