Mike Ashley’s Frasers Group has declared its £1.7 billion all-cash takeover bid for Hugo Boss final, giving the German fashion house until July 27 to decide. Frasers said it will not increase the €38 per share offer, which represents less than a 5% premium to the pre-bid closing price. The group already holds a 26% stake in Hugo Boss and is its largest shareholder. Frasers pledged to back current management and limit dividends to the legal minimum, reinvesting funds into the company. Hugo Boss shares dipped slightly to €37.57 following the update.
Hugo Boss AGHugo Boss receives a takeover offer at a low premium; shares dipped slightly, indicating market skepticism about the deal's value.
Frasers Group PLCFrasers Group's final £1.7bn bid for Hugo Boss at a low premium may be seen as overpaying or risky, and the offer is non-negotiable.