Frasers Group, the UK retailer controlled by billionaire Mike Ashley, makes an offer to acquire the rest of German fashion brand Hugo Boss. Bloomberg and the Financial Times report that the deal values Hugo Boss at about €2.7 billion (around $3.1 billion). The Financial Times adds that Frasers could use the bid to increase its stake rather than necessarily take full control, reflecting uncertainty about the final outcome.
The Guardian and BBC News provide more detail on the proposed price and Frasers’ existing position. Both say Hugo Boss is already partly owned by Frasers, which holds about a quarter (or 26%) of the company. The Guardian reports Frasers is seeking to buy the remainder of the business in a bid of about €1.98 billion, while BBC News says the offer would be £1.73 billion to buy all of Hugo Boss.
Across outlets, the core elements are the same: Frasers is pursuing an acquisition of Hugo Boss beyond its current minority stake, with the proposed transaction centered on a total valuation around €2.7 billion and a price for the remaining shares of roughly €2.0 billion.
