Mike Ashley’s Frasers Group has acquired a further stake in Hugo Boss, taking its holding beyond the mandatory bid threshold under the German Takeover Code.
The Sports Direct owner has purchased an additional 2,549,900 Hugo Boss shares, representing approximately 3.69 per cent of the fashion group’s share capital and voting rights.
The acquisition takes Frasers Group’s total holding above the 30 per cent threshold requiring a mandatory offer.
Frasers Group made a cash offer for Hugo Boss worth almost £1.73 billion earlier this year. However, the German company’s managing and supervisory boards recommended that shareholders reject the approach, describing the offer as “financially inadequate”.
The offer of €38 per Hugo Boss share remains open, with the initial acceptance period due to end on 27 July 2026.
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