Allensford offer for The Reject Shop extended

Company News

by Anna Napoli

The Allensford on market takeover offer for The Reject Shop (ASX:TRS) has been extended until March 5 2019 according to a statement released to the ASX last night.

The offer had previously been extended until 6 February 2019.

The $2.70 per share bid for the retailer, which was announced by the investment firm in November last year has been dismissed by the Reject Shop as opportunistic and undervaluing the company.

The announcement comes after the Reject shop announced it expects net profit after tax for the six months to December 31 to be roughly $10.5 million.

The Reject Shop Board continues to urge shareholders to reject the offer.

Shares in The Reject Shop (ASX:TRS) closed 0.37 per cent lower at $2.72 yesterday.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.