Burberry Shares Surge Amid Moncler Takeover Rumors
Burberry Stock Price: Shares of British luxury fashion retailer Burberry soared on Monday, experiencing a significant jump fueled by speculation that Moncler, the Italian outerwear brand known for its iconic puffer jackets, is considering a takeover bid. The news sent Burberry’s stock price up as much as 8% in early trading, although it later stabilized to around 3.5% higher, trading at approximately 876.6 pence.
This spike in share value comes after reports surfaced on Miss Tweed, indicating that Bernard Arnault, head of LVMH, is eager to facilitate a deal with Burberry. LVMH had previously acquired a 10% stake in Double R, an investment vehicle linked to Moncler CEO Remo Ruffini, thereby securing a seat on Moncler’s…
