A host of firms, including Slaughter and May, Travers Smith, Linklaters and Simpson Thacher & Bartlett, are lining up in a bidding war for French electrical retailer Darty.
London-listed Darty is the target of rival bids from South African furniture conglomerate Steinhoff and French retail giant Fnac. In November Fnac launched a bid to buy Darty for £585 million, which the company’s management recommended shareholders accept. But in March Steinhoff made a competing offer of £662 million, and Darty withdrew its recommendation of Fnac’s bid to shareholders.
