FNAC Makes Offer for Darty

Fnac, the French electronics and music retailer, has made a bid for UK-listed rival Darty. The French company made a bid of £1.01 per share – valuing the company at £533 million ($807.7 million).

Darty said in a statement that it would consider ‘explore the benefits’ of a merger. The company is Europe’s third-largest electrical goods retailer, and earns 70% of its revenue in France.