Mike Ashley’s Frasers follows Hugo Boss bid with offer for Australia’s Accent
UK billionaire’s fashion group offers £166m for takeover of 77.1% of shares in shoe firm it does not already own Business live – latest updates The retail billionaire Mike Ashley has launched his second takeover bid in a week, attempting to snap up Australian footwear business Accent Group, days after announcing a tilt at Hugo Boss. Ashley’s Frasers Group, which already owns the biggest single stake in Accent at 22.9%, said it will offer 65 Australian cents (34p) a share for
UK billionaire Mike Ashley's Frasers Group has made a new takeover bid for the Australian footwear company Accent Group. The offer is for 77.1% of the company's shares that Frasers does not currently own. Frasers already holds a 22.9% stake in Accent Group. The proposed acquisition value is £166m, with a price of 65 Australian cents per share. This follows Ashley's recent attempt to acquire Hugo Boss. The offer matches the closing price of Accent Group's shares on Friday. The move marks Frasers' second takeover bid in a short period. The deal could significantly expand Frasers' presence in the global footwear market.
The acquisition could enhance Frasers' market position and diversify its portfolio.
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