The Reject Shop surprise takeover offer

Company News

by Rachael Jones

The Reject Shop (ASX:TRS) has had a surprise takeover offer from Allensford.

Allensford has appointed its broker Bell Potter to purchase Reject Shop shares through to January 7 at $2.70 per share.
The bid comes after The Reject Shop cut its profit guidance in October.

The board considers the offer 'somewhat opportunistic".

The Reject Shop has engaged Macquarie Capital as its financial adviser and Lander and Rogers as its legal adviser in relation to the offer.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.