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BRIEF-Mothercare confirms rejection of new offer from Destination Maternity
July 2, 2014 / 10:21 AM / 3 years ago

BRIEF-Mothercare confirms rejection of new offer from Destination Maternity

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July 2 (Reuters) - Mothercare Plc :

* Response to announcement

* Notes announcement by Destination Maternity Corporation that it is considering a possible offer for Mothercare

* On May 27, 2014 board received preliminary and highly conditional approach from destination maternity regarding possible offer at an indicative value of 250 - 275 pence per Mothercare share

* Reviewed proposal in detail and concluded that it significantly undervalued mothercare and its attractive prospects

* Board had a number of material concerns regarding deliverability of value to Mothercare's shareholders and significant execution risk associated with proposal

* June 1, received a further approach at an indicative value of 300 pence per Mothercare share in a mix of 75 percent

* Revised proposal was rejected on June 3, 2014 Source text for Eikon: Further company coverage:

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