Mike Ashley’s Frasers makes €1.98bn takeover offer for Hugo Boss
Summary
Mike Ashley’s company, Frasers, has made an offer to buy the remaining shares of the German fashion brand Hugo Boss, valuing the deal at about €1.98 billion. Frasers already owns 26% of Hugo Boss and wants to take full control if shareholders and regulators agree.Key Facts
- Frasers owns 26% of Hugo Boss and offered €38 per share to buy the rest.
- The offer values the full takeover at around €1.98 billion (£1.73 billion).
- Hugo Boss shares were trading at €36.44 before the offer.
- Frasers first invested in Hugo Boss in 2020 and has steadily increased its stake.
- Michael Murray, Frasers’ CEO, is on Hugo Boss’s supervisory board but did not take part in the takeover decision.
- The offer now awaits a vote by Hugo Boss shareholders and regulatory approval.
- Frasers hopes to complete the deal in the second half of 2024 if approved.
- If successful, Hugo Boss will join Frasers’ retail portfolio, which includes Sports Direct, Flannels, and Evans Cycles.
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