Hugo Boss asks shareholders to reject Frasers

Hugo Boss is asking its shareholders to reject Frasers Group’s takeover bid. The board of directors is calling on shareholders to “have confidence in the future” and describes the bid as insufficient.

Toward a full takeover?

The German fashion group considers the offer of 38 euros per share to be inadequate and insufficiently representative of its future plans. The board of directors and the supervisory board reached this conclusion unanimously, following advice from Bank of America and Goldman Sachs.