A few days after the voluntary takeover offer for the Metzingen fashion group Hugo Boss AG, the British retailer Frasers Group Plc has now also made an offer for the Australian retail group Accent Group Limited. The Offer seeks to acquire all outstanding ordinary shares of the Company not already owned by Frasers Group.
The group currently holds 22.9 percent of the shares in Accent Group, which it acquired at an average price of over 0.90 Australian dollars per share. The Frasers Group is now offering the remaining shareholders 0.65 Australian dollars per share. This means that the remaining 77.10 percent share in the company is valued at around 316 million Australian dollars (193 million euros). The official offer period begins on June 30th and ends at the close of trading on July 30th, unless extended or withdrawn.
The Accent Group advises its shareholders not to act for the time being
The Board of Directors of the Accent Group, in collaboration with the financial advisor Luminis Partners and the legal advisor Arnold Bloch Leibler, has published an initial statement on the offer. It advises shareholders not to act on the unsolicited offer for the time being.
The Board emphasized that the offer price of 0.65 Australian dollars does not represent a premium to the last closing price of the shares on June 12. He also emphasized that the offer was structured as an on-market offer. Shareholders who sell their shares through stock brokers would therefore not be able to reverse their sales or participate in possible price increases or better competing offers.
The hostile takeover bid was preceded by an adjustment to an existing partnership between the two companies. The target agreed in April 2025 to open 50 branches of the Frasers Group retail chain Sports Direct within six years was revised downwards in May. Eight new stores are now planned by December 2026 and 30 stores within three years.
Overall, Accent’s recent financial results, capital management and growth strategy were the triggers for the takeover offer, said Christopher Wootton, Chief Financial Officer (CFO) of Frasers Group. The British group says it has “repeatedly attempted to negotiate constructively with the incumbent management team about declining earnings, rising loans and high dividend payouts,” but “received no significant response.”
This article was created using digital tools translated.
FashionUnited uses artificial intelligence to speed up the translation of articles and improve the end result. They help us to make FashionUnited’s international reporting quickly and comprehensively accessible to a German-speaking readership. Articles translated using AI-based tools are proofread and carefully edited by our editors before they are published. If you have any questions or comments, please email [email protected]