The business, which owns book retailers Foyle’s and Waterstones, has reportedly said it would be interested in buying Reiss for upwards of £500m from Next and its other shareholder private equity firm Warburg Pincus, Sky News reported.
However, the publication said that it was unclear on Wednesday (21 June) whether Elliott would table a formal bid for the retailer.
Last week, Next was also said to be working with investment bankers at Raymond James to arrange a sale.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Despite rumbles of a sale, Next could decide to retain its controlling stake in Reiss, after it increased its stake to 51% in 2022.
Source: Drapers
Can’t stop reading? Read more
PAI and ICG strike €3bn Infra Group deal with partial stake sale
PAI and ICG strike €3bn Infra Group deal with partial stake sale PAI Partners has partially exited...
Blackstone snaps up East Miami luxury hotel amid hospitality deal spree
Blackstone snaps up East Miami luxury hotel amid hospitality deal spree Blackstone has purchased...
Bain Capital strikes $3.9bn deal to sell China data centre arm amid AI boom
Bain Capital strikes $3.9bn deal to sell China data centre arm amid AI boom Bain Capital has...