JD.com Reportedly Weighs £2 Billion Bid for UK Retailer The Very Group
JD sits 25% above its 52-week low of $24.508.
Summary
JD.com is reportedly considering a £2 billion takeover bid for UK online retailer The Very Group. While the company also reported Q1 revenue of ¥315.7 billion and a 53% drop in net income to ¥5.1 billion, these earnings figures were previously disclosed on May 12th via a 6-K filing and news. The potential £2 billion acquisition, equivalent to approximately $2.5 billion, would be a material strategic expansion for JD.com into the UK e-commerce market. Traders will be watching for confirmation or denial of this reported bid.
At the time of this announcement, JD was trading at $30.52 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $37.7B. The 52-week trading range was $24.51 to $36.86. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.