After Australia’s MySale Group rejected Frasers Group’s cash offer last month to buy a cent per cent stake, saying it undervalued the business, the latter has inched closer to acquiring the former after Jackson Family Capital Pty Ltd., a major shareholder in the flash sales site, made an ‘irrevocable commitment’ to sell 103,745,000 shares to the UK group.
On September 16, 2022, MySale directors published their response to the offer, recommending that MySale shareholders do not accept the offer as “they are of the view that a price of 2 pence per MySale share does not reflect an adequate value of MySale and undervalues MySale and its prospects”.
After Australia’s MySale Group rejected Frasers Group’s cash offer last month to buy a cent per cent stake, saying it undervalued the business, the latter has inched closer to acquiring the former after Jackson Family Capital Pty Ltd., a major shareholder in the flash sales site, made an ‘irrevocable commitment’ to sell 103,745,000 shares to the UK group.
On the same date, Carl Jackson resigned from his position as the…
