London: Selfridges plc, which owns the biggest department store in London’s Oxford Street, has reportedly agreed to a takeover offer of £628.1mil in cash and debt from Canadian billionaire Galen Weston.
Oxford Acquisitions Ltd (OAL), a unit of Weston-controlled Wittington Investments Ltd, said in a statement it had offered 387p cash and 5.25p as final dividend for the year ended Feb 1. OAL said it would also assume Selfridges' net debt of £30.1mil. – Bloomberg
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