Frasers Nears Majority Control of Hugo Boss After Board Rejects Bid

Frasers Group now holds 48% of Hugo Boss after 17.6% of shareholders accepted its EUR 38-per-share takeover offer. The board unanimously rejected the bid as "inadequate," noting only a 4% premium above the market price. Analyst Axel Rudolph called it "another major step towards gaining control," leaving Frasers "firmly in the driving seat."