Waterstones owner submits £750m bid for Currys

27th February 2024 | Jack Oliver

The owner of Waterstones has submitted a second bid for Currys, as the retailer becomes the centre of a bidding war.

Elliott Advisers has tabled an improved offer for the London Stock Exchange-listed retailer valued at £750m, Sky News reports.

The activist investor previously submitted an offer worth £700m, which Currys deemed too low.

Elliott Advisors was joined last week by Chinese e-commerce giant JD.com, which confirmed it was in the preliminary stages of evaluating a possible cash offer for the entire share capital of Currys.

In accordance with London Stock Exchange rules, both interested parties have been set a mid-March deadline to submit a formal offer.

Last month, Currys said that sales had declined 3% over the key Christmas period, but had increased its profit forecast for the year due to higher cost-saving measures and profit margins.


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