Burberry Rejects Multiple Bids From Coach

Burberry has rejected multiple takeover bids from the US fashion accessories company Coach, according to the Financial Times. In a deal which valued Burberry at £20 billion, the UK’s biggest luxury retailer received numerous offers from its US competitor for a cash-and-stock takeover. Despite its share prices struggling in the first half of 2016, Burberry now has a market value of £6.2 billion. Read more at Retail Gazette.