Briscoe builds 19.9% stake in Kathmandu, plans full cash and scrip takeover

Mon, 29 Jun 2015

By Jonathan Underhill June 30 (BusinessDesk) - Briscoe Group, the retailer controlled by managing director Rod Duke, has acquired 19.9 percent of Kathmandu and said it plans to make a full takeover offer for the outdoor equipment and clothing chain. Auckland-based Briscoe said it picked up 4.99 percent of Kathmandu over time and has subsequently acquired 14.9 percent of the target from institutional investors for $1.80 a share. That amounts to about a 29 percent premium to Kathmandu's closing price yesterday. “I am excited by the poten...

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