Investment management firm Elliott Advisors is considering making a new cash bid for British electricals retailer Currys (CURY.L) after the activist investor's initial offer of 700 million pounds ($882 million) was rebuffed, The Times reported on Monday.
Currys on Saturday said Elliott Advisors offered 62 pence per share for the shares of the retailer but the board rejected the proposal.
Elliott Advisors confirmed to The Times that it was considering a possible cash offer for Currys.
Separately, The Telegraph reported on Sunday that China's e-commerce group JD.com Inc (9618.HK) has been exploring a takeover of Currys, raising the prospect of a bidding war after the retailer rejected the private equity approach.
JD.com representatives have made contact with Currys and held exploratory talks in recent weeks, the report said, citing sources.
Currys and JD.com did not immediately respond to Reuters' request for comment, while Elliott Advisors could not be reached.
The British retailer of technology products and services, operates online and through more than 820 stores in eight countries with around 28,000 employees.
($1 = 0.7937 pounds)
