Briscoe Group offer for Kathmandu lapses, holding reverts to 19.9%

Briscoe Group's offer for outdoor clothing retailer Kathmandu Holdings has lapsed after attracting a paltry 2.27 percent of acceptances with a price that was at a steep premium to the market price.

The retailer controlled by managing director Rod Duke opted not to increase its offer, which amounted to $1.80 a share in cash and scrip. Before the offer was made, Kathmandu shares had traded at $1.39. They fell about 2 percent to $1.50 today.

The takeover bid was rejected by the Kathmandu board because it felt it undervalued the chain, which was put at between $2.10 and $2.41 by Grant Samuel’s independent assessment of the offer. 

Briscoe's stake reverts to 19.9 percent, the most it can hold without making a full takeover. Briscoe stock last traded at $2.99.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

OCA delivered record full year result
BLT - Strong revenue and underlying earnings growth
MFB - Food Bag reports full year profitability up 5.3%
TWR - Tower reports strong HY earnings
IPL - FY26 Annual Results
May 21st Morning Report
May 20th Morning Report
May 19th Morning Report
PYS - PaySauce to announce F26 full year results on 27 May 2026
PEB - Draft LCD Proposes Medicare Coverage for Triage and Triage