Lord Jacob Rothschild has asked Coats Viyella, the UK's largest quoted textile company, to consider going private. If it agrees, it would mark the end of a significant quoted sector for textile shares in the UK.
The Financial Times reports that Lord Rothchild, Coats' biggest shareholder, wrote to management on Wednesday on behalf of shareholders owning 18% to outline the possibility of delisting the company.
But according to Coats management, the letter did not name a price and did not form a basis for any further talks.
Last month Allied Textile, a Leeds-based competitor, agreed to a £99m management buy-out.