Currys rejects second takeover offer from US firm

Currys has rejected a second takeover approach from US firm Elliott, saying the offer "Significantly undervalued" the electronics chain. The US firm's latest offer valued Currys at 67p per share, an increase on its previous offer of around 62p per share. In a statement on Tuesday, Currys confirmed it had received a second offer from Elliot. "The Board of Currys considered the Second Elliott Proposal, together with its financial advisers, and concluded that it significantly undervalued the Company and its future prospects. Accordingly, on 26 February 2024, the Board of Currys unanimously rejected the Second Elliott Proposal," it said. It has since jumped and closed on Tuesday at 66.5p. Danni Hewson, head of financial analysis at AJ Bell, said Elliott had made its intentions towards Currys "Crystal clear".

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