Specialty Fashion Group (SFG) has announced it will be considering a takeover offer from a consortium that includes its outgoing CEO Gary Perlstein.
The Katies, Millers and Rivers owner announced to shareholders that an independent review committee, excluding Perlstein, would be tasked with assessing the proposal.
The statement by the company followed media speculation by both The Australian and the Australian Financial Review earlier this week.
SFG stated that discussions concerning the matter were ongoing and were not regarded as sufficiently advanced to warrant any further disclosure.
It also highlighted that there were no guarantees that the proposal would result in a binding offer.