If the merger would have gone ahead, according to the Financial Times, the market capitalisation of the combined company would have been in excess of $20 billion.
As per the Financial Times, Burberry, a British luxury fashion brand, has rejected multiple takeover offers from U.S. based Coach Inc., a manufacturer of handbags.
If the deal would have gone through, the combined market capitalization of both companies would have been more than $20 billion, said the Financial Times.
Although it is, as yet, unclear as to how much of a premium Coach Inc. had offered, FT’s report stated that the U.S. company’s proposal were only preliminary and informal and involved a cash and stock takeover proposal.
In October, Reuters had reported citing sources familiar with the matter at hand, that the companies were not in active talks although reports had emerged that the two fashion brands were considering a tie-up.
Both, Burberry and Coach were immediately available for comment outside regular business hours.