Mike Ashley’s Frasers Group makes a takeover offer for Hugo Boss, aiming to gain full control of the German fashion company. Frasers already owns a little over a quarter of Hugo Boss—about 26%—and the offer targets the remaining shares. Multiple outlets report that Frasers offers €38 per share in cash, valuing the deal at about €1.98bn (about £1.73bn) for the shares it does not currently hold. After the announcement, Hugo Boss shares rise sharply, with reports of gains of around 7% to nearly 10% on the news. Hugo Boss says it will “thoroughly examine” the proposal. At least one source also frames the broader valuation as roughly €2.7bn (about $3.1bn) for Hugo Boss in total, while noting the possibility that Frasers’ stake-building could be part of the motivation rather than an exclusive focus on complete take-private control. The bid is presented as part of Ashley’s broader expansion of retail and fashion holdings.
Frasers launches near-£1.7bn bid to buy remaining Hugo Boss shares
Mike Ashley’s Frasers Group makes a takeover offer for Hugo Boss, aiming to gain full control of the German fashion company. Frasers already owns a little over a quarter of Hugo Boss—about 26%—and the...
- Frasers Group, led by Mike Ashley, launches a cash offer for the remaining shares of Hugo Boss.
- Frasers already holds about 26% of Hugo Boss and seeks full control.
- The offer is reported at €38 per share, valuing the targeted portion at about €1.98bn (around £1.73bn).
- Hugo Boss responds by saying it will “thoroughly examine” the offer.
- Hugo Boss shares rise by roughly 7% to nearly 10% following the announcement.
Hugo Boss shares jumped nearly 10 per cent on Thursday after the German fashion group said it would examine a near-€2bn takeover approach from Frasers Group. The Sports Direct owner, which already holds just over 26 per cent of Hugo Boss, made an offer late on Wednesday worth around €1.98bn, or £1.73bn, to take full...
2 months agoMike Ashley retail group made near-€2bn takeover bid for fashion house, in which it already has 26% stakeBusiness live – latest updatesShares in Hugo Boss jumped nearly 7% on Thursday after it said it would “thoroughly examine” a near-€2bn takeover offer from Sports Direct owner Frasers Group.Mike Ashley’s fashion and sportswear group has pounced on the German fashion house, of which it already owns just over 26%, saying late on Wednesdaythat it was offering to pay about €1.98bn (£1.73bn) to take full control of the rest of the business. Continue reading...
2 months agoFrasers Group has launched a near £1.7bn takeover offer for Hugo Boss as Mike Ashley’s retail empire looks to take full control of the German fashion brand. The Sports Direct owner, which is already Hugo Boss’s biggest shareholder with a 26.06 per cent stake, has offered €38 per share in cash for the remaining shares...
2 months agoThe retail group already owns just over a quarter of the German fashion brand but wants to buy the rest of it.
2 months agoFashion and sportswear group, which owns 26% of the German luxury brand, is now seeking full controlMike Ashley’s retail group, Frasers, has launched a near-€2bn takeover offer for the German luxury fashion brand Hugo Boss.The fashion and sportswear group, which owns 26% of Hugo Boss, said it is offering to pay about €1.98bn (£1.73bn) for the remainder of the business to take full control. Continue reading...
2 months agoRetail billionaire could use bid to increase stake in German fashion group rather than taking full control
2 months ago
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