Frasers, a British retail group, launches a takeover offer for German fashion company Hugo Boss, prompting the shares to rise in trading. Multiple reports say Frasers already holds a significant stake in Hugo Boss, at about 26%, and the bid is aimed at acquiring the remaining shares. Reports describe the offer as a cash price of €38 per Hugo Boss share. The proposed price represents a premium to Hugo Boss’s prior closing level, with one outlet citing a roughly 4.3% premium to Wednesday’s close. Coverage also places the overall value of the offer at about €2.3 billion to $2 billion, depending on currency conversion used by each outlet. The announcement leads to a sharp immediate market reaction, with Hugo Boss shares increasing by around 7% in one report. The reports focus on the terms of the cash offer and the fact that Frasers is moving to take full control after building a large existing position.