Frasers Group has increased its shareholding in Hugo Boss to more than 30%, marking a significant step in its bid to take full control of the German fashion brand.<\/p>\n
The retail group has acquired a further 2,549,900 HUGO BOSS shares, representing approximately 3.69% of the company’s share capital and voting rights, following the exercise of put options on 17 July.<\/p>\n
The latest purchase takes Frasers’ total holding to 20,897,361 shares, equivalent to around 30.28% of Hugo Boss’ share capital and voting rights, excluding any additional shares already tendered into the offer.<\/p>\n
By surpassing the 30% threshold under the German Takeover Code (Wp\u00dcG), Frasers has reached a key regulatory milestone in its takeover bid.<\/p>\n
The move builds on the retailer’s voluntary public takeover offer, launched in June, to acquire the remaining Hugo Boss shares it does not already own for \u20ac38 per share. The offer values the business at approximately \u20ac1.98bn and represents a premium to the fashion house’s share price before the bid was announced.<\/p>\n
The takeover follows five years of steadily increasing Frasers’ investment in Hugo Boss after first taking a stake in the business in 2020. If completed, it would become one of the largest acquisitions in the group’s history and significantly strengthen its presence in the premium and luxury fashion sector.<\/p>\n
Frasers, which is controlled by Mike Ashley and led by chief executive Michael Murray, owns a portfolio of retail brands including Sports Direct, Flannels, Frasers department stores and Evans Cycles. Adding HUGO BOSS to that portfolio would further expand its international fashion offering.<\/p>\n
Michael Murray, who also sits on Hugo Boss’ supervisory board through Frasers’ existing shareholding, did not participate in discussions relating to the takeover proposal.<\/p>\n
The bid, however, has faced resistance from HUGO BOSS’ management. Earlier this month, the company’s Managing Board and Supervisory Board unanimously recommended shareholders reject the offer, arguing that the \u20ac38-per-share bid does not reflect the company’s long-term value and future growth potential.<\/p>\n
Despite the opposition, Frasers has continued to build its stake in the business. The offer remains open for shareholders to accept, with the initial acceptance period due to close at midnight (Frankfurt time) on 27 July.<\/p>\n","protected":false},"excerpt":{"rendered":"
Retail giant has increased its stake in Hugo Boss beyond 30% as it moves closer to taking full control of the German fashion brand<\/p>\n","protected":false},"author":266702,"featured_media":2082449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"coauthors":[127717],"class_list":["post-2112864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","tag-derbyshire","tag-featured-story"],"yoast_head":"\n