Frasers weighs Hugo Boss CEO role for Murray, The Times reports
Frasers Group's Strategic Moves in Hugo Boss Takeover
July 26 (Reuters) - Frasers Group is exploring ways to install its chief executive Michael Murray as the CEO of Hugo Boss, The Times newspaper reported on Sunday, as the British company pursues its takeover of the German fashion house.
Murray, the son-in-law of Frasers' owner Mike Ashley, already sits on Hugo Boss's supervisory board.
Key Developments in the Takeover
Here are some details:
Frasers' Stake and Mandatory Bid
• Frasers last week raised its holding in Hugo Boss to about 30.28%, crossing the threshold that triggers a mandatory bid under German takeover rules.
Takeover Offer Details
• In June, Frasers launched an all-cash takeover offer for Hugo Boss at €38 per share, or about €2 billion ($2.28 billion), an offer the German group urged its shareholders to reject, saying it was "financially inadequate".
Offer Status and Timeline
• Frasers said last week its offer remained open, with the initial acceptance period running until July 27.
About Hugo Boss
• Founded in 1924, Hugo Boss is Germany's largest premium fashion house with annual revenue topping €4.3 billion in 2025.
Responses from Both Companies
• A spokesperson for Hugo Boss redirected Reuters to Frasers' June statement where it had backed Hugo's current board but did not comment further. Frasers declined to comment.
Exchange Rate Information
($1 = 0.8765 euros)
Reporting Credits
(Reporting by Chandni Shah and Prerna Bedi in Bengaluru; Editing by Mrigank Dhaniwala and Louise Heavens)
