Burberry Takeover Rumours (BRBY)

There was a little bit of a bounce I think on vague recovery and takeover hopes. Also happening is the planned IPO of Puig which will value it at around €9bn. Puig owns Carolina Herrera, Charlotte Tilbury etc and would be an excellent fit with Burberry fragrances. A broker downgraded BRBY a couple of days ago which has knocked the price back. Question, would other groups like to own Burberry and could they run it more profitably? Almost certainly yes.

With a billion cash on the balance sheet this is a huge takeover target. Has been for years.