DFS offer fails to win over shareholders

The proposed £496m (€737m) takeover of British furniture retailer DFS was on a knife-edge today after two leading investors vowed to oppose the bid.

DFS offer fails to win over shareholders
Wed, 25 Aug, 2004 - 15:35

The proposed £496m (€737m) takeover of British furniture retailer DFS was on a knife-edge today after two leading investors vowed to oppose the bid.

The stance of the shareholders owning nearly 14.5% of the company represents a major setback to would-be buyer Lord Kirkham and the DFS non-executive board, which has backed the bid and could quit if it fails.

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