UK electronics retailer Dixons has announced that they are in merger talks with the Carphone Warehouse, if the deal comes off, the two companies would create one of the largest retailers in the UK.
The Carphone Warehouse and Dixons would have 3,000 retail stores in the UK, and 35,000 staff if the deal goes ahead, of course this would be before any cost cutting.
On 24 February, the Boards of Dixons and Carphone Warehouse announced that they were in very preliminary discussions regarding a possible merger of Dixons and Carphone Warehouse and that each of Dixons and Carphone Warehouse are required, by not later than 5:00 pm on 24 March 2014, either to announce a firm intention to make an offer for Carphone Warehouse or Dixons (as appropriate) in accordance with Rule 2.7 of the Code or announce that it does not intend to make such an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.
The two companies are announced that they are still in preliminary talks, and that we can expect an official announcement by the 19th of May if the deal proceeds further.
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