Struggling Fashion Retailer French Connection Gets $40 Million Buyout Offer

French Connection said on Thursday it had received a takeover offer from a group of bidders including its second-largest shareholder, sending London-listed shares of the struggling UK fashion retailer up 15%. The offer of 30 pence share from a group including Apinder Singh Ghura, Amarjit Singh Grewal and KJR Brothers Ltd values the once dominant player in British fashion at about 29 million pounds ($39.6 million), according to Reuters calculations. The offer price represents a 30% premium to French Connection’s Wednesday closing price. Read more at Reuters.