Flagging retailer Colorado puts the boot into Affinity Equity Partners

The Australian clothing retailer says AffinityÆs takeover offer is flawed and accuses the firm of unfair play.

Asian investment firm Affinity Equity Partners has found an unwilling target in Australian clothing retailer, Colorado, which has called its A$430 million $322 million takeover offer ôspurious and destined to failö.

The companyÆs main gripe with the off-market cash offer of A$4.50 per share is that it is conditional on the company achieving an unrealistic earnings target for the first half of 2006.

Affinity has stated that the offer wonÆt stand if first half earnings before tax are lower than...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition