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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.
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20 Articles
20 Articles
So far, the British Frasers Group has owned around a quarter of the Boss shares. Now the company wants full control and makes an offer to the other shareholders.
·Germany
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Die Presse+4 Reposted by 4 other sources
The British last held directly 25 percent of the German fashion company.
·Vienna, Austria
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First dispute, now takeover plans: Frasers attacks Hugo Boss. The stock reacts immediately. The advance of billionaire Mike Ashley, who is also invested in Puma, hits the Metzinger in the middle of a realignment.
·Düsseldorf, Germany
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Coverage Details
Total News Sources20
Leaning Left3Leaning Right4Center3Last UpdatedBias Distribution40% Right
Bias Distribution
- 40% of the sources lean Right
40% Right
L 30%
C 30%
R 40%
Factuality
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