Mallett

LONDON dealers Mallett are reported to have rejected a takeover bid by property speculator Jack Petchey, who recently bought a 19.28 per cent stake in the company at 210p per share.

VALUE investor Jack Petchey has taken just under a 20 per cent stake in Mayfair dealers Mallett. He acquired the 2.66m shares, representing a 19.28 per cent stake in the company, at a price of £2.10 a share, from Merrill Lynch, on May 30.

Mallet, one of London’s most famous and venerable antiques dealerships, are opening prestigious new permanent galleries on New York’s Upper East Side.

UK: BOND Street dealers Mallett have revealed a year on year 18 per cent fall in pre-tax profits for the first six months of 1999 to £2.68m.