Buy-now-pay-later lender Klarna has acquired fledgling social shopping platform Hero for around £115 million, according to people familiar with the deal. It will be added to Klarna’s platform of 250,000 retail partners.
Being a listed business has its advantages, but also means closer scrutiny and a need to respond to the interests of shareholders. Both long-time-listed JD Sports and newcomer THG have felt this keenly in recent days.
JD Sports Fashion continues to be extremely active on the acquisition front. Last week it reportedly snapped up a controlling stake in Manchester-based Missy Empire, and this week it has announced a big move in Spain.
Investors in Gemfields, the parent of high-end jeweller Fabergé, are unhappy. The gem producer and brand owner can expect a backlash over executive bonuses and the lack of transparency in its bonus scheme.
Bonuses paid out to JD Sports Fashion executive chairman Peter Cowegill have come under fire with advisory firm Glass Lewis recommending shareholders vote against the firm's “inappropriate” pay policy.