Burberry a ‘takeover target’ amid 20% value drop

Burberry faces a potential takeover threat, city analysts have cautioned, following a 20% decline in the luxury fashion retailer’s value since the beginning of the year.
A profit warning from fellow luxury rival Kering, which owns Gucci, triggered the British brand’s shares to slump on Wednesday (24 April), the Telegraph reports.
The 2.5% drop means Burberry is now worth £4bn.
Abrdn investment manager Sasha Kachanova told the title: “Burberry remains a potential takeover