Activist investment firm Elliott has made a second bid for electrical retailer Currys, according to reports made this afternoon.
The owner of Waterstones has lodged an offer of between 65p and 70p-a-share, up slightly from an initial 62p-a-share bid worth £700m, Sky News said.
Currys last week rejected an offer from the firm last week on the grounds that it undervalued the company.
But Elliot came back and said it would consider a possible cash offer for Currys, but noted there “can be no certainty that an offer will be made”.
Currys is also said to be in talks with Chinese commerce giant JD.com about the possibility of a deal, however cautioned at the time there “can be no certainty that an offer could be made”.
City A.M has contacted both parties for a comment.
In the last year, investors have watched Currys struggle to keep its head above water, as a slowdown in spending and national cash crunch battered both its earnings and share price.
Its most notable ploy to shore up extra funds was offloading its Greek and Cypriot arm for £175m.