Investing.com — British retailer Frasers () said Tuesday it increased its stake in Hugo Boss () to about 30.28%, passing a threshold that requires a mandatory takeover bid under German regulations.
The company purchased an additional 2.55 million shares in the German fashion house, bringing its holdings above the 30% limit. Frasers previously owned a 26.06% stake in Hugo Boss, making it the company’s largest shareholder.
Frasers proposed in June to acquire Hugo Boss for €38 per share, valuing the deal at roughly €2 billion, or $2.28 billion. The German company advised its shareholders to reject the proposal, calling it “financially inadequate.”
The British retailer said Tuesday its offer remains available, with the initial acceptance period set to end on July 27.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
