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Dixons Retail (DXNS) Takeover Rumours

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FT Carphone Warehouse had a wobble on Monday amid fears that it might be left on the shelf. The retailer dropped as much as 6.4 per cent on a report that BC Partners, the Phones4U owner, had tried to gatecrash its £3.8bn merger with Dixons. However, people familiar with the companies insisted there was nothing happening. With BC’s plans to float Phones4U stalled indefinitely by Carphone’s potential merger, it was no surprise that the private equity group had tried to rework long-standing proposals to reverse its business into Dixons, investors said. But few expected Dixons to have been any more receptive to the idea this time around. Carphone closed at 322.9p, down 4.8 per cent, while Dixons was up 0.2 per cent to 50p. The Takeover Panel granted the pair an extended deadline of May 19 to work out details of their tie-up.
Financial Times small comment today with no explanation given - Separately, Dixons and Carphone Warehouse are expected to announce on Monday that they are asking for an extension to the Takeover Panel’s deadline to reach an agreement on their possible merger, or walk away. Both companies declined to comment
Takeover by CPW!!!
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