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Schroders backs Findel's position over attempted takeover

Schroders which has an 18.85 per cent share of Findel has confirmed that it supports Findel's board in its rejection of the mandatory offer made by Sports Direct to take over the business. The investment firm also said that it considered that the offer made significantly undervalued Findel and failed to recognise Findel's future prospects. 

Findel is currently enjoying significant growth from its Studio.co.uk online retail business, formerly Express Gifts, and recently undertaken a full rebrand.  

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