Currys Rejects Second Takeover Bid from Waterstones Owner, Citing Undervaluation

Currys has declined a second takeover offer from Elliott, owner of Waterstones, stating it "significantly undervalued the company." Elliott's improved bid of 67p-per-share was rebuffed, with Currys' stock currently valued at 66.40p. The board unanimously rejected the offer, urging Elliott to reconsider by March 16. A major shareholder suggests a price tag of £800m and advocates for a minimum of 75p-per-share. Meanwhile, Currys is also courted by Chinese e-commerce giant JD.com, which is exploring a potential offer. News of the bidding war drove Currys' shares up by 36.4% to 64¼p last Tuesday.

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