Currys declines US company Elliott’s second takeover attempt.

Elliott raised its initial £700 million valuation of the company earlier this month to approximately £757 million.

The Chinese competitor JD.com, which has also indicated interest in purchasing the British company, faces up against the US enterprise.

Despite having more than 800 locations worldwide, Currys’ sales have slowed as a result of the crisis in the cost of living.

It said that sales during the Christmas season, which is typically busy for shops, had decreased by 3% when compared to the same time last year.

Currys, like many other High Street companies, has been having trouble with declining sales as consumers reduce their spending.

Elliott has a reputation as an activist investor, meaning it pursues firms in order to take them over. Elliott purchased the UK book store Waterstones in 2018.