Britain's Frasers Group launches takeover offer for Hugo Boss
Frasers Group's Takeover Bid Details
By Tristan Veyet
June 10 (Reuters) - British sportswear and fashion retailer Frasers Group PLC has launched a takeover offer for Hugo Boss, it said on Wednesday.
Offer Terms and Share Price
Frasers Group is offering a cash consideration of €38 ($43.91) per share, it added. Hugo Boss' shares closed at €36.44 a share on Wednesday.
Purpose of the Takeover Offer
"To facilitate further investment by Frasers in Hugo Boss, Frasers has decided to make a voluntary public takeover offer to all Hugo Boss shareholders for all Hugo Boss shares not directly held by Frasers," Frasers said in a statement.
Current Shareholding and Market Position
Frasers Group said it currently holds 26.06% of Hugo Boss' share capital. Frasers Group is Hugo Boss' largest shareholder, according to LSEG data.
Expected Timeline for Completion
The British group added it expected the offer to complete in the second half of 2026.
Additional Information
($1 = 0.8654 euros)
(Reporting by Tristan Veyet in Gdansk; Editing by William Maclean, Emelia Sithole-Matarise and Jan Harvey)
