A report in today's Daily Mail (19 August) claimed that St Ives was working on a 600m reverse takeover deal, which would involve it raising 100m via a "placing".
In a statement to Reuters, a spokesman for St Ives said: "St Ives has not been considering an offer for its larger, unlisted peer Polestar."
According to the Daily Mail's story, "Polestar would love to have a full UK Stock Exchange listing" and the speculated deal would mean it "could soon see its name printed in every share price column".
The paper went on claim that Silchester International Investors, which has steadily grown its stake in St Ives from 13.5% at the start of the year to 20.18%, had "given its blessing" to the deal.
This is not the first time that the Daily Mail has highlighted a possible deal between the two firms.
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