Weston to announce Selfridges share offer

THE multi-millionaire owner of department store Brown Thomas, Galen Weston, is expected to announce an agreed offer of about £3.70 per share (€2.38) for the Selfridges group.

A successful bid for Selfridges would leave the way free for a merger between Selfridges and Brown Thomas, which has a flagship store in Dublin and branches in Cork and other cities. Such an amalgamation of the two prestigious names would also make Weston’s the second largest department store group in the world.

An offer of £3.70 per share would put a price tag of £570 million on British-based Selfridges and Weston is expecting to have a recommendation from the board when the stock market opens this morning.