MFI confirms takeover approach

MFI confirms that it is in discussions with Merchant Equity Partners

MFI said that a number of significant issues remain outstanding, and the discussions may or may not lead to a transaction which the Board would compare with other options for MFI Retail. The terms currently under discussion include nominal consideration and cash contributions from MFI and the purchaser, as well as other features which could have a material bearing on shareholder value.

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