Frasers Group

“Frasers Group has moved to tighten its grip on German fashion giant Hugo Boss, tabling a takeover offer in a deal that values the brand at nearly €2bn.”

“The retail empire, which spans Sports Direct and Flannels, already sits as Hugo Boss’s largest investor with a stake north of 25 per cent, and has now made its play to push beyond a blocking minority…”

“Frasers is offering €38 a share for the portion of the business it does not already own.”

“If successful, the deal would be worth around €1.98bn (£1.73bn) and is expected to complete in the second half of the year, subject to regulatory approval.”

“the payments will be made within 72 hours as a goodwill gesture.”

“The retailer bought Harvey Nichols from administrators FTI for £40 million.”

“which has recorded five consecutive years of losses while competing with rivals such as Harrods and Selfridges.”

“Earlier this month, Frasers also increased its stake in German label Hugo Boss to nearly 48 percent.”