Elliott mulls $2.67 billion takeover of UK's The Very Group, Sky News reports

The Carlyle Group

The Carlyle Group

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June 11 (Reuters) - U.S.-based investment firm Elliott Advisors has joined bidders considering a takeover of The Very Group in a deal that could value the British online retailer at £2 billion ($2.67 billion), Sky News reported on Thursday.


Here are more details:

  • Sky News had reported in May that Chinese e-commerce giant JD.com 9618.HK was evaluating a potential £2 billion bid for The Very Group, in a push to expand in the UK market.

  • The Very Group, previously known as Shop Direct, sells clothes, electronics and home goods to customers mainly under the Very and Littlewoods brands.

  • The takeover interest in the retailer comes after U.S.-based Carlyle CG.O took control of the group last year, ending the Barclay family's 20-year involvement with The Very Group.

  • Elliott, Carlyle and The Very Group did not immediately respond to a request for comment. Reuters could not immediately verify the report.

($1 = £0.7486)


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