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Boohoo bids for online businesses of Karen Millen, Coast

Boohoo Group PLC on Aug. 6 confirmed that it offered to acquire the online operations of U.K. brands Karen Millen and Coast, along with all of its associated intellectual property rights.

The British online fashion retailer said Karen Millen's and Coast's online businesses are "highly complementary additions" to its platform and will expand its offerings.

Boohoo added that the takeover bid does not ensure that a transaction agreement will occur.

The company will make a further announcement on the matter "when appropriate."