Norway’s DNO, which is pursuing a hostile takeover, has offered Faroe shareholders 152p a share, valuing the company at £610m on a fully diluted basis. Faroe’s shares dipped 0.7 per cent.
In retail, an Office for National Statistics report on the sector presented a cautious picture. In the three months to November, which includes the Black Friday sales, the quantity bought in UK retail sales showed a rise of only 0.4 per cent on the previous three months.
“It’s hard to recall a Christmas environment that has been as competitive as the current market, and a number of established consumer brands are struggling to cope,” said Ian Geddes, head of retail at Deloitte.
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