LONDON — Debenhams plc on Monday confirmed reports that it is in talks with the U.K.-based venture capital group Permira, but warned those talks could come to nothing.
Debenhamsissued a statement saying talks were progressing toward a possible offer of $6.80 per share in cash, the price mentioned in press reports last week. That would value Debenhams at approximately $2.47 billion. Dollar figures are converted from the pound at current exchange.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"