Frasers Group Launches Takeover Offer for Hugo Boss
Britain’s Frasers Group has launched a takeover offer for German fashion company Hugo Boss. The offer is a cash bid worth about €1.98 billion, or roughly $2.3 billion.
Frasers is already Hugo Boss’ largest shareholder, with a stake of slightly more than 26%. After the offer was announced, Hugo Boss shares rose about 7%.
Frasers Group announced a cash takeover offer for Hugo Boss to try to take full control of the company.
The offer is worth about €1.98 billion, which is roughly $2.3 billion.
The shares rose after the takeover offer became public, as investors reacted to the possibility of a full buyout.
Frasers Group already owns slightly more than 26% of Hugo Boss shares.
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