Specialty Fashion queried amid takeover speculation
The Australian reported earlier this week that suitors were swirling around SFH’s City Chic business, the only brand left in its stable after the sale of the majority of its business to Noni B Group.
The reports appear to have sent a rocket up SFH’s share price, but on Wednesday the company said it was not aware that there was “any merit” to the claims.
It said senior executives were in investor briefings on Tuesday and Wednesday discussing the sale of the Katies, Millers, Rivers, Crossroads and Autograph brands to Noni B.
But the SFH share movement appears to have occurred before the Oz published its article, increasing by 16 per cent last Friday to 88 cents.
SFH shares closed on Wednesday at $1.06, up from the 76 cents the company was trading at this time last week.
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.
Do you know what the United Nations' Sustainable Development Goals are? Contributor Adrian Jones explains which one… https://t.co/nzrkW1xsGF4 hours ago
Afterpay has revealed a 127 per cent year-on-year increase in underlying sales in the June quarter, its biggest qua… https://t.co/RCuC2z0uCE5 hours ago