ASOS share price rise after US bidChris Middlebrooks (Author) Published Date : Aug 28, 2014 06:24 IST
After continuously falling into the share market ASOS the British online fashion retailers shares sees the light after the news of an US firm shows interest to acquire shares of the company however the source is still not confirmed.
ASOS shares which has been in the down wards trend this year loosed 13.5 percent at 26.65 pounds where its rivals like Boohoo and Yoox but the recent news saw ASOS share price increase of 7.6 percent on Tuesday after the news spreads.
According to a financial website the deal is still not clear as there was a US bid of giving 50 pounds which is $83 per share.
It was also learnt that the giants like Amazon and eBay are also interest to take over the firm as they are looking to expand its business by acquiring the firm as this is one of the brightest sector in this sector.
However ASOS did not made any comment regarding the ongoing rumor of its firms acquisition by the US company.
The company has its fans like the first lady of the United States Michelle Obama and the British singer Rita Ora and since then it has gained some popularity as it started the trading at the stock market back in 2001 with only 20 pence.
ASOS has a market of nine local language websites and has over 75,000 brand along with its own brand which they took orders from their clients which includes China, Russia where they use to dispatch their products from British territory and the website has a monthly visitors of 83 million.
ASOS share price rise after US bid