Mothercare rejects €330m takeover bid

Baby products retailer Mothercare has rejected takeover approaches worth as much as £266m (€332m) from a leading North American retail chain.

Destination Maternity, which is the world’s largest designer and retailer of maternity wear with more 1,900 retail sites, has so far failed to persuade the board of Mothercare to engage in talks over its interest.

It disclosed today that it has tabled two approaches to the struggling UK chain, with its latest cash and shares proposal on June 1 valuing Mothercare at 300p a share, equivalent to £266m.