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US/UK: A Coach-Burberry $20 billion fashion merger may be in the cards

By  |  October 26, 2016

Coach and Burberry shares were both up on Friday after financial blog Betaville reported the two companies were considering a merger. According to the blog, the US company has been working with financial advisers at Evercore for numerous weeks on a possible deal, rumored to create a $20 billion luxury clothing giant, citing two people familiar with the situation, although the parties were not named. The deal would likely value Burberry at around £18.50 per share.

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    While representatives at both the companies declined to comment, the Financial Times had reported earlier in the year that Burberry had asked its advisers at Robey Warshaw to help prepare a defense for a possible bid.

    It was reported at that time that a mystery investor had built up a stake of close to 5%, prompting the company to attempt, albeit unsuccessfully, to ask HSBC, which is listed as the custodian for the position, to disclose its client or clients.

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