Frasers Group launches near £1.7bn takeover bid for Hugo Boss

Frasers Group has launched a near £1.7bn takeover offer for Hugo Boss as Mike Ashley’s retail empire looks to take full control of the German fashion brand.
The Sports Direct owner, which is already Hugo Boss’s biggest shareholder with a 26.06 per cent stake, has offered €38 per share in cash for the remaining shares in the business.
The offer represents a 4.3 per cent premium to Hugo Boss’s closing share price of €36.44 on Wednesday and values the remaining 73.