Shares of Hugo Boss rose around 8% on Thursday after a $2.3 billion takeover bid was announced by Frasers Group.
Frasers, already the largest shareholder of Hugo Boss with a stake of just over 26%, is offering €38 per share in cash for the remaining shares, a 4.3% premium to Wednesday’s close.
In a press release, Frasers said: “Today, Frasers Group plc has announced its decision to launch a voluntary public takeover offer pursuant to the German Securities Acquisition and Takeover Act to acquire all of the no-par value registered shares in HUGO BOSS AG which are not held by Frasers, corresponding to approximately 73.94% of the share capital and 73.42% (excluding treasury shares) of the voting rights of HUGO BOSS.”
Hugo Boss stated that Frasers’ proposal was not coordinated with the company and announced that its board would “thoroughly evaluate” the offer.
The deal would integrate Hugo Boss into the retail empire managed by British billionaire Mike Ashley. Frasers Group owns Sports Direct and House of Fraser, and holds stakes in Asos, Debenhams, and Currys.
Frasers expects the offer to be completed in the second half of 2026.
Frasers shares fell 2.5% following the announcement.
By CEO NA Editorial Staff
