Billionaire Mike Ashley’s Frasers Group is walking away from an attempted takeover of Mulberry Group Plc but is still pushing for a board seat at the British handbag maker.Frasers said Mulberry had not properly engaged with its offer to buy the remainder of the company,

Frasers Group said it doesn’t plan to make an offer to buy Mulberry, ending a near monthlong battle to take control of the British luxury brand.Frasers—which has a 37% stake in Mulberry—said Wednesday that it remains a long-term supporter of the brand and hopes to engage with the company to appoint a representative to its board.

Frasers, which is a major Mulberry shareholder with a 37 per cent stake, said that the outcome is “disappointing”.

The group said it had decided not to make a firm offer ahead of Monday's bid deadline in light of Mulberry's rejection of its latest sweetened approach and 'in the absence of proper engagement from th

A day after a second takeover proposal worth £111m was rejected, his Frasers Group said it 'does not intend' to make a firm offer for the troubled handbag maker.

The London-listed fashion firm said its board had decided to rebuff the higher proposed takeover in favour of focusing on boosting its business performance

(Reuters) -British sportswear and apparel retailer Frasers Group walked away from its attempts to buy Mulberry on Wednesday, citing a lack of engagement from the British luxury brand's board after two proposals were rejected.

Frasers abandons its takeover bid for Mulberry - Frasers said it “continues to believe that market headwinds, and a clear lack of commercial plan” place Mulberry “in a very difficult financial position.