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Frasers boosts stake in Hugo Boss to nearly 48% after rejected bid
Frasers is now just short of majority control and received acceptances for about 12.2 million Hugo Boss shares, or 17.6% of share capital.
Frasers Group has increased its position in Hugo Boss to almost 48%, strengthening its influence at the German fashion house after a hostile takeover offer was rejected, according to Yahoo Finance.
The UK retailer, controlled by Mike Ashley, previously held about 26.1% of Hugo Boss when it launched a voluntary cash offer of €38 per share in June for the shares it did not already own. That offer implied a valuation of roughly €2 billion for the remaining stake, or about €2.7 billion for the whole company.
Yahoo Finance reports that Frasers received valid acceptances for around 12.2 million Hugo Boss shares, representing about 17.6% of share capital and voting rights. Combined with its prior holding, the group now owns or has acceptances for about 47.9%, leaving it just below majority control but as Hugo Boss's largest shareholder.
Hugo Boss management and its supervisory board had urged shareholders to reject the offer, arguing €38 per share was financially inadequate. The supervisory board chair, Stephan Sturm, said the company welcomed Frasers' long term commitment and expected a constructive relationship, while Hugo Boss said investors should focus on its CLAIM 5 TOUCHDOWN strategy, launched in December 2025 and planned to run through 2028.