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.”

“proposed to exchange €38 per share for the equity in Hugo Boss it does not already own.”

“Frasers already has a 26 per cent share of Hugo Boss’ voting rights”

“Frasers already has a 26 per cent share of Hugo Boss’ voting rights and its bid amounted to a €1.98bn approach, valuing the fashion house at €2.7bn in total.”

“It said it has already lined up financing for a takeover from BNP Paribas, Deutsche Bank, NatWest and Standard Chartered.”