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Burberry Remains Silent About Potential Takeover

There has been recent speculation that luxury brand, Burberry has been approached by a U.S. private equity firm about a potential takeover. The company is yet to release a statement.

According to Sky News, Burberry’s shares rose 4.2% on the London Stock Market Exchange Thursday as a result of the speculation.

Burberry has been seen as a takeover target since its share price fell in 2013 after the news of its former CEO, Angela Ahrendts’ departure. Christopher Bailey now heads the company as chief creative and chief executive officer.

The brand’s third quarter report published in January, revealed a 15 percent increase in retail revenue to 604 million pounds ($884 million). It also noted there was a double-digit percentage comparable sales growth in the Americas, Europe, the Middle East and Africa, while a low single-digit percentage growth in Asia Pacific was accredited to the disruption in Hong Kong.