Sports Direct owner launches takeover offer for Hugo Boss
Frasers already owns 26% and says the offer would value the remaining shares at €38 each, pending shareholder and regulatory approval.
- Sports Direct owner Frasers Group launched a takeover offer for German luxury fashion brand Hugo Boss on Wednesday, seeking full control of the business for around €1.98 billion.
- Having steadily built its stake since 2020, Frasers Group now owns around 26% of Hugo Boss; chief executive Michael Murray stressed he "did not participate in the board's discussion of, or decision to make, the offer."
- The offer values the remaining stake at €1.73 billion, with Hugo Boss shares trading at €36.44 at Wednesday's close, while Frasers itself holds a market value of around €3.45 billion.
- Frasers stated that increasing investment will "create value for Frasers" shareholders while supporting Hugo Boss executives Stephan Sturm, chair of the supervisory board, and Daniel Grieder, chief executive.
- The offer is expected to proceed to a shareholder vote, with Frasers Group hoping to complete the deal in the second half of this year pending regulatory approvals.
54 Articles
54 Articles
The actions of the German fashion producer Hugo Boss increased by almost 8% on Thursday, after its main shareholder, the British Frasers Group, launched a takeover offer worth about 2 billion euros, CNBC broadcasts.
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The shares of Hugo Boss are fired in stock more than 9% and rub the 40 euros per title after Frasers Group, owner of brands like Lonsdale, Sports Direct and Game, and majority shareholder of the company, launched an OPA on 74% that does not control for 2 billion euros, which means valuing the company at 2.7 billion. The British group has submitted a cash offer of 38 euros by the German company, which translates into a premium of 4% with respect …
Hugo Boss is facing a takeover offer from the British Frasers Group, which offers two billion euros for the fashion company. Shareholders are reluctant, Hugo Boss continues to plan independent growth.
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