Mike Ashley’s Frasers makes €1.98bn takeover offer for Hugo Boss

Mike Ashley’s retail group, Frasers, has launched a near-€2bn takeover offer for the German luxury fashion brand Hugo Boss. The fashion and sportswear group, which owns 26% of Hugo Boss, said it is offering to pay about €1.98bn (£1.73bn) for the remainder of the business to take full control. The offer would mean Frasers – which also owns Sports Direct – paying €38 a share to investors in the fashion company. Shares in Hugo Boss were worth €36.44 at the close of trading on Wednesday. …