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Hugo Boss to thoroughly examine €1.98bn takeover offer from Frasers

Hugo Boss said its board will thoroughly examine a near-€1.98bn cash offer from Frasers Group, which equates to €38 per share and a reported valuation of €2.7bn. The bid, from Frasers owner Mike Ashley, follows the group building a stake of just over 26% since 2020. Hugo Boss shares jumped about 6.5% after the announcement as the company reviews the proposal. » Plus sur theguardian.com
Frasers offers €38 per share and aims to acquire Hugo Boss

The British Frasers Group has announced a voluntary takeover offer for Hugo Boss of €38 per share and directly holds just over 26% of the shares. Securing the remaining nearly 74% would require about €2 billion, valuing the company at roughly €2.7 billion. Analysts call the offer unattractive due to the only roughly 4% premium, and there had previously been tensions between Frasers and Hugo Boss’s management. Frasers stresses its long-term commitment, supports the board and points to additional financial instruments; regulatory approval is still pending. » Plus sur de.investing.com
HUGO BOSS fares better than expected despite revenue and EBIT decline

HUGO BOSS reported a 9% revenue decline to €905 million in Q1 (currency-adjusted -6%) and an EBIT of €35 million (-42%), but exceeded expectations. Gross margin rose by 1.1 percentage points to 62.5%, driven by efficiency gains and price adjustments. Declines in EMEA and the US were offset by slight growth in Asia-Pacific; the Middle East conflict weighed on sales by about one percentage point. Management reiterated the full-year guidance of a currency-adjusted revenue decline in the mid to high single-digit percent range and an EBIT target of €300–350 million. » Plus sur finanzen.net