Burberry shares surge higher amid speculation over possible hostile takeover bid

Luxury fashion label Burberry saw shares surge higher amid speculation that a mystery investor could be planning a hostile takeover attempt.

The trendy trench coat maker saw its stock leap as much as 6% higher on London's FTSE 100 Index after a Financial Times report last night revealed Burberry had sought advice on defence tactics after an investor built up a near-5% stake.