British luxury goods retailer Burberry has turned down a number of takeover offers from U.S. fashion giant Coach in the past few months, according to a report Sunday by the Financial Times.
The report cited people briefed on the matter and stated that if the deal had gone through, the combined company would have been valued at over $20 billion, creating a fashion powerhouse, bringing together the U.K.’s biggest luxury goods retailer and Coach’s leather goods, handbags and recently acquired shoemaker Stuart Weitzman.
The proposals from Coach reportedly peaked soon after the summer and were informal, attempting at a cash-and-stock bid for Burberry. The sources, however, could not confirm the premiums or whether Burberry gave serious consideration to Coach’s offers.
It was confirmed that talks are no longer taking place between the two companies and the Financial Times reported that…