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The Guardian - UK

Business

Julia Kollewe

Hugo Boss shares jump as it ‘thoroughly examines’ Frasers’ takeover offer

Hugo Boss Frasers Mike Ashley Flannels Frasers Group Sports Direct

Hugo Boss showroom inside a shopping mall in Mumbai — Hugo Boss said late on Wednesday that Frasers’ approach was not coordinated with the company. Photograph: Danish Siddiqui/Reuters

Shares in Hugo Boss jumped nearly 10% on Thursday after the company said it would “thoroughly examine” a near-€2bn takeover approach from the Sports Direct owner Frasers Group.

Mike Ashley’s fashion and sportswear business has pounced on the German fashion house, in which it already owns just over a 26% stake, saying late on Wednesday that it was offering about €1.98bn (£1.73bn) to take full control .

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