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Currys takeover move scrapped by US firm Elliot

Investment firm Elliot says it will not bid for the retailer after being rejected "multiple times".

US investment firm Elliott Advisors has walked away from making a takeover bid for Currys after being rejected by the retailer's board "multiple times". Elliott, which owns UK bookseller Waterstones, said on Monday that it had made attempts to engage with the board of Currys, but had now chosen to back off. The rising cost of living in the past couple of years has hit many retailers as consumers cut back on spending, and Currys said last month that underlying sales had fallen 3% over the key Christmas trading period.

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