LONDON (Reuters) - French retailer Groupe Fnac (PA:FNAC) on Tuesday urged shareholders of takeover target Darty (L:DRTY) to take no action after South African retail conglomerate Steinhoff (DE:SNHG) launched a rival $975 bid through its Conforama unit.
"Fnac is currently considering its options and urges Darty shareholders to take no further action at this time," Fnac said in a statement issued by Darty, noting the Conforama offer was not unconditional and was open for at least 60 days.
On Monday, Steinhoff, the world's biggest listed retailer by market capitalisation, said its offer had the support of Darty's biggest shareholder, Schroder Investment Management, which owns about 14 percent of Europe's thrid-largest electronics retailer.