Mike Ashley’s Frasers makes A$316m bid for Australia’s Accent

Frasers Group has launched a second takeover bid in a week for Australian footwear retailer Accent Group, offering 65 Australian cents (34p) a share for the remainder of the company. The group already owns a 22.9% stake; the A$316m (£166m) bid matched Accent's closing price on Friday.

The move follows Frasers' near-€2bn (£1.73bn) offer for Hugo Boss last week. A successful outcome would add two new brands to a business that already includes Frasers department stores (formerly House of Fraser), Sports Direct and Evans Cycles. Mike Ashley, who retains a 73% stake in Frasers, opened a single sports store in Maidenhead in 1982 with £10,000 from his parents, stepped down from the board in 2022 and saw his wealth rise by £317m to £3.44bn last year.

Accent, listed on the Australian stock market, sells brands such as Skechers, Lacoste and Hype and last year agreed to launch and operate Sports Direct stores in Australia and New Zealand with Frasers.

Australia, Maidenhead

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