Frasers presses Hugo Boss, but neither side gives in

Frasers Group has increased its stake in Hugo Boss to 30.28%, thereby crossing the German threshold for a mandatory public offer. The British retail group is sticking to its offer of 38 euros per share, but the management of the German fashion brand still considers that too low.

Standing firm

Frasers bought another more than 2.5 million Hugo Boss shares, representing 3.69% of the share capital and voting rights. In June, the group already owned just over 18 million shares, representing 26.06% of Hugo Boss’s capital. This brings the total to 30.28%, not yet including the additional shares from shareholders who have already agreed to the takeover bid.