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Billionaire Mike Ashley’s Frasers Group is walking away from an attempted takeover of Mulberry Group Plc but is still pushing for a board seat at the British handbag maker.
Frasers said Mulberry had not properly engaged with its offer to buy the remainder of the company, in which it already holds a 37 percent stake.
Wednesday’s statement added that a slowdown in the luxury sector “and a clear lack of commercial plan place the company in a very difficult financial position.”
The decision…
