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In Brief: CITA Says No ... Grand Design ... Bidding for Selfridges ...

The Committee for the Implementation of Textile Agreements published its denial of a short supply request by the Dow Chemical Co.



BIDDING FOR SELFRIDGES:
Selfridges, the London-based department store, has given potential bidders 10 days, or until May 6, to submit takeover offers for the company, according to a report in The London Sunday Times.

The newspaper reported that the store had received a bid last week from Tom Hunter, the Scottish retail entrepreneur, valuing the company at approximately $793 million based on current exchange rates.

Earlier this month, Selfridges confirmed in a statement that it had been approached by an unnamed party, believed to be Hunter, about a takeover, while other potential bidders have been identified as Goldman Sachs and Galen Weston, the Canadian billionaire.

Selfridges executives declined to comment on the report.

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