Currys rejects second takeover offer from US firm Elliott

Currys has rejected a second takeover approach from US firm Elliott, saying the offer "Significantly undervalued" the electronics chain. Elliott'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. Analysts meanwhile acknowledge that Currys' share price has long been at a steep discount - given its market share and profitability - which has made the firm attractive to investors.

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