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.
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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
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