Theo Fennell, the jeweller beloved of the likes of Victoria Beckham and Elton John, confirmed it is in talks over a possible sale of the company.
The company said it was in "very preliminary talks" with private equity firm EME Capital, which may or may not lead to an offer being made.
The statement came after rumours of a takeover caused the jeweller's share price to jump by almost a quarter in the last week.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The announcement brings the City Code on Takeovers and Mergers into play, meaning EME must, by not later than 5.00 p.m. on 3 October (the 28th day after Wednesday's announcement), either announce a firm intention to make an offer or say it does not intend to do so.
Founded in 1982, the British jewellery company designs and produces its own pieces in London and was a contender to be the Queen's jeweller after the post became vacant in July.
-
Which investment trusts could benefit from lower interest rates?As vehicles for long-term investments, many investment trusts were hit when interest rates rose in 2022. With interest rates expected to fall by the end of the year, could now be the time to invest in one of these unloved sectors?
-
How to protect your personal and financial data from cyber attacksM&S and the Co-op are the latest retailers to suffer from cyber hacks but consumers also need to be vigilant
