Key facts
- Frasers Group increased its stake in Hugo Boss to 30.28%, triggering mandatory takeover bid rules.
- The company's offer values Hugo Boss at approximately €2 billion, or €38 per share.
- Hugo Boss's management and supervisory boards have recommended shareholders reject the offer.
- The offer's acceptance period is open until July 27.
- Frasers Group previously held a 26.06% stake in Hugo Boss.
Frasers Group has increased its stake in German fashion house Hugo Boss to 30.28%, crossing the regulatory threshold that mandates a takeover bid. The British retailer's offer of €38 per share, valuing Hugo Boss at nearly €2 billion, remains open until July 27. However, Hugo Boss's management and supervisory boards have unanimously recommended shareholders reject the bid, deeming it financially inadequate after consulting with Bank of America and Goldman Sachs. Frasers Group, which previously held a 26.06% stake, also noted that ongoing takeover bids made forecasting its fiscal 2027 outlook difficult.