Mike Ashley's Frasers Group is eyeing up a takeover bid of makeup firm Revolution Beauty.
The struggling beauty firm confirmed this morning that Frasers Group is one of a number of organisations looking at buying the company.
It follows a Sky News story reporting that Frasers, which owns a host of retailers including House of Fraser and Evans Cycles, had contacted Revolution Beauty regarding a potential offer.
Now, Revolution Beauty has issued an update stating: "Revolution Beauty notes the recent press speculation regarding the interest of Frasers Group plc ("Frasers") in Revolution Beauty and confirms that Frasers is one of a number of parties conducting due diligence as part of the Formal Sale Process announced on 21 May 2025.
"There can be no certainty that Frasers' interest will result in a firm offer for the company.
"Further updates will be provided if and when appropriate."
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