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Darty battle heats up as Fnac makes counter bid

Reuters - UK Focus

PARIS, April 21 (Reuters) - French retailer Fnac said on Thursday it was offering 145 pence per share to buy Darty (Other OTC: KESAF - news) , Europe's third-largest electronics retailer, trumping a freshly raised offer from Conforama, a unit of South African retail conglomerate Steinhoff.

Fnac said in a statement that its offer valued Darty at 779 million pounds ($1.12 billion), while Conforama had said its increased offer at 138 pence valued Darty at approximately 742 million pounds. ($1 = 0.6975 pounds) (Reporting by Dominique Vidalon; Editing by James Regan)