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Frasers did not win Hugo Boss outright. But it now owns enough of the company to make the board listen. The hostile bid may have faded, but Mike Ashley's luxury push is still very much alive.
Frasers Group has raised its stake in Hugo Boss to almost 48%, tightening its grip on the German fashion house after a rejected takeover offer.
The U.K. retailer, controlled by Mike Ashley, launched a voluntary €38-per-share cash offer in June for the Hugo Boss shares it did not already own. At the time, Frasers held about 26.1% of the company.
The offer valued the remaining shares at roughly €2 billion, or about €2.7 billion (about $3.7 billion) for the whole company, but Hugo Boss's management and supervisory boards urged shareholders to reject it, calling the bid financially inadequate.
#hugo #billion #shares #tell
Frasers did not win Hugo Boss outright. But it now owns enough of the company to make the board listen. The hostile bid may have faded, but Mike Ashley's luxury push is still very much alive.
Frasers Group has raised its stake in Hugo Boss to almost 48%, tightening its grip on the German fashion house after a rejected takeover offer.
The U.K. retailer, controlled by Mike Ashley, launched a voluntary €38-per-share cash offer in June for the Hugo Boss shares it did not already own. At the time, Frasers held about 26.1% of the company.
The offer valued the remaining shares at roughly €2 billion, or about €2.7 billion (about $3.7 billion) for the whole company, but Hugo Boss's management and supervisory boards urged shareholders to reject it, calling the bid financially inadequate.
#hugo #billion #shares #tell
11 days ago
