Alexon ends offer talks

Alexon has called off talks regarding a possible takeover as it believes an indicative approach undervalues the company.

The group, which owns the Bay Trading, Dash and Ann Harvey clothing brands, said last week that it had received an indicative approach that might lead to an offer for the business. Last month Alexon said like for like sales, excluding Dolcis, fell 4% for the 22 weeks ended 30 December, while margins came in 1% lower as it was forced to mark down more clothes than the previous year.

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