Tag: $Frasers Group PLC

Hugo Boss supervisory board chair Stephan Sturm is stepping down after little more than a year in the role amid pressure from Mike Ashley’s Frasers Group, which has become the largest shareholder in the German fashion house.

German fashion brand Hugo Boss on Thursday urged shareholders not to accept a €2 ‌billion ($2.3 billion) takeover offer from Britain’s Frasers Group, saying it was “financially inadequate”.

Hugo Boss shares popped around 8% Thursday after its biggest shareholder, Frasers Group announced a 2-billion-euro takeover offer for the German fashion company.