LONDON — Time is running out for would-be bidders to launch a rival offer for Selfridges, the London-based department store chain that Canadian billionaire Galen Weston offered to buy earlier this week for a total of $1.14 billion.
Selfridges chairman Alun Cuthcart told WWD on the sidelines of the company’s annual shareholders’ meeting here Thursday that documents relating to Weston’s offer would be sent to shareholders over the next few days. If more than 50 percent agree to sell their shares, then the offer becomes unconditional and all further bidding will be blocked. Shareholders will have an initial 21-day period to vote and a total of 60 days to make their final decision.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)