ASOS shares fly on takeover rumour
Is it eBay or Amazon?......or August?
Shares in AIM’s largest company ASOS are up over 15% today following rumours of a takeover approach from a US group. The story goes that Amazon or eBay are be looking at a purchase of ASOS as a way of expanding their clothing offering.
Online clothing retailer ASOS has not enjoyed the best of years. Indeed shares in the Company have fallen by 66% over the last 5 months as news on trading has disappointed. The Company has blamed the strength of sterling which has impacted its higher margin international sales forcing a reduction in profit expectations. Additionally, the Company has had to increase spending on promotional activity.
ASOS has stated that it is on its way to…
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