JD.com, a Chinese e-commerce company, has shown interest and has one week to either submit a definite offer or withdraw their interest.
Following an impressive surge, it has now reached record levels surpassing $71,000.
In the early hours of Monday in the UK, the value of the cryptocurrency reached an all-time high of $71,209. This marks a significant increase from its previous price of under $16,000 in late 2022.
In November 2021, the value of bitcoin reached an all-time high of $68,550 due to excitement from individual investors, who had received financial aid during the lockdowns caused by the coronavirus pandemic. Some economists believed that the unusually low interest rates also contributed to the rising price.
During the crypto winter, numerous investors who had heavily invested in cryptocurrency suffered losses. Yet, institutional investors have displayed heightened interest in the largest cryptocurrency by market value following the approval of new bitcoin exchange-traded funds (ETFs) by the US regulator.
Elliott withdraws their bid to take over Currys.
In British business updates, Currys, a medium-sized electronics store, seems to have successfully resisted attention from American private equity investors Elliott Advisors.
On Monday, Currys announced that their attempts were turned down by the board of the retailer, and as a result, Elliott decided not to make an official offer.
Private equity investors from around the world have set their sights on UK firms, which are deemed to be priced lower than their counterparts in various measures.
“I will take a long position in the company.”
Elliott announced to the stock market that they will be investing in the company long-term.
Elliott Advisors (UK) Limited, representing the funds it manages, states that after making several attempts to communicate with Currys’ Board, all of which were declined, they are not sufficiently informed to make a better proposal for Currys based on the publicly available information. As a result, Elliott affirms that it has no plans to make an offer for Currys.
As per UK’s acquisition regulations, Elliot is prohibited from submitting another offer for Currys for a minimum of six months, unless the Currys board agrees or there is a change in the situation.
The agenda
Source: theguardian.com
