(Reuters) – Investment firm Flacks Group said on Monday it was in the preliminary stages of evaluating a possible deal to buy Laura Ashley Holdings Plc, valuing the British fashion retailer at £20 million.
Florida-based Flacks said any possible offer would be limited to 2.748 pence in cash for each Laura Ashley share.
The retailer, whose shares were down 7.7 percent at 2.99 pence at 1414 GMT, said earlier on Monday it had not received any takeover bids.
Laura Ashley, popular for its floral prints, said last week its performance for the entire year would miss market expectations on lower consumer spending.
(Reporting by Tanishaa Nadkar in Bengaluru)