From CNBC:

Superdry shares surge over 100% as co-founder and CEO considers taking the company private. Stock peaked at 48.55 pence per share before falling to around 46p. Rumors of a takeover intensified as Norwegian hedge fund builds 5.3% stake, making it second largest shareholder. Dunkerton has until March 1 to submit an offer.

Julian Dunkerton, co-founder of Superdry, is considering taking the company private. The stock peaked above £20 ($25.52) per share in January 2018. Following a boardroom coup, Dunkerton returned as CEO, but the company’s share price has remained in decline. The stock closed at just over 21 pence per share on Thursday.

Dunkerton, who co-founded Superdry as a market stall in 2003, has requested permission to explore making an offer for the company. A recent slump in sales and falling share price make the company a potential takeover target. Dunkerton now has until March 1 to submit an offer under U.K. Takeover Panel’s regulations. “These discussions are at a preliminary stage and no decisions have been made,” the company said.



Read more: Superdry shares soar more than 100% as company considers going private