- Frasers Group
- 10 June 2025 07:45:47
Source: Sharecast
In a stock exchange filing on Tuesday, Sports Direct owner Frasers cautioned that there could be "no certainty that an offer will be made for Revolution Beauty nor as to the terms on which any offer might be made, a day after it emerged the group was conducting due diligence on a potential purchase, sending shares in its target surging 10%.
Revolution last month announced plans to raise fresh funds and on May 21 said it had received a takeover approach from an unnamed bidder sending its shares soaring by 36% as the board said it would now be “appropriate to investigate” a sale.
Bidders have until June 11 to put forward their interest.
“There can be no certainty that Frasers’ interest will result in a firm offer for the company,” Revolution told shareholders in a on Monday. “Further updates will be provided if and when appropriate. Shareholders are advised to take no action at this time.”
The Aim-listed firm listed in 2021, but its market capitalisation is now only £20m after it share price tanked 66% over the past year. It has also been investigated over accounting issues and 27% shareholder Boohoo, which called for Revolution’s leadership team to be replaced.
Reporting by Frank Prenesti for Sharecast.com
