Currys rejects latest bid from Elliott as board eyes better price

Currys' largest shareholder, Redwheel, has backed the company's decision to refuse Elliott's first offer. Photo: PA

Deirdre Hipwell and Sabah Meddings

Currys rejected a raised offer from Elliott Investment Management and said it still "significantly undervalued" the British electronics retailer that is also drawing interest from China's JD.com.

The UK company confirmed earlier reports that Elliott had raised its preliminary offer from 62 pence to 67 pence a share, valuing the chain at about £760m (€888m).