Elliott Advisors is plotting a bid for the London-listed electrical goods retailer, which are employs more than 15,000 people in Britain
Waterstones owner Elliott is also planning a £700m takeover of London-listed electrical goods retailer Currys.
We’ve learned that Elliott, who is also known for his worker strikes against the boards of some of the world’s biggest companies, is working his way up on a bid for one of Britain’s most famous high street names.
This weekend, it was not clear whether Elliott had even made a formal offer to Currys’s board, although a conservative takeover premium of around 29% on the company’s current share price would value it at around £700m.
Currys employs over 15,500 people in the UK, trading from around 300 stores.
In 2021, the company rebranded under its current name, absorbing shops operating under brands including PC World, Carphone and Dixons Warehouse.
It was founded in 1884 by Henry Currie as a bicycle-manufacturing business, before diversifying into the sale of gramophones and radios when it listed on the London Stock Market in 1927.
Now led by chief executive Alex Baldock, Currys is battling the same inflationary headwinds that have plagued the rest of the retail sector and the broader consumer economy.