Why did Accent Group (ASX:AX1) reject the takeover bid from Frasers Group?

Accent Group (ASX:AX1) rejected the unsolicited $316 million takeover bid because the board determined the offer is opportunistic, undervalues the business, and fails to provide a control premium. Management stated that the $0.65 per share cash proposal does not reflect the company's long-term value.

What are the financial details of the Frasers Group (LSE:FRAS) proposal for Accent Group (ASX:AX1)?

Frasers Group (LSE:FRAS) launched an on-market cash offer of A$0.65 per share, valuing Accent Group (ASX:AX1) at approximately A$316 million. This bid matched the target company's previous closing price but fell below its recent market trading levels.

What does this development mean for the future sales targets of Accent Group (ASX:AX1)?

Accent Group (ASX:AX1) stated the $316 million offer undervalues its internal strategic growth plan, which targets $1.9 billion in total sales by 2030. The board maintains that the current business strategy will drive stronger profit margins than the Frasers Group proposal accounts for.

How much of Accent Group (ASX:AX1) does Frasers Group currently own?

Frasers Group (LSE:FRAS) already holds a 22.9% stake in Accent Group (ASX:AX1), making it the largest shareholder in the retail firm. Accent Group (ASX:AX1) noted that Frasers Group previously acquired portions of this stake at higher historical share prices.

How did the Accent Group (ASX:AX1) share price react to the Frasers Group (LSE:FRAS) announcement?

The Accent Group (ASX:AX1) share price rose to $0.75 following the public announcement of the rejected $0.65 per share takeover bid. This market movement put the company's trading price above the initial cash offer made by Frasers Group.

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Accent Group rejects $316M takeover bid

Written by Mahathir BayenaPublished Jun 22, 2026, 12:45 AM

Accent Group rejected an unsolicited on-market takeover proposal from its largest shareholder.
The target company's shares rose to $0.75 following the announcement of the cash offer.
Management stated the offer undervalues its growth plan targeting $1.9 billion in sales.

Accent Group (ASX:AX1) has unanimously rejected an unsolicited $316 million on-market takeover offer from Frasers Group.

The cash offer of $0.65 per share matched the prior closing price but fell below recent trading levels.

The board stated that the proposal is opportunistic and fails to provide an appropriate premium for corporate control.

Accent noted that the bid undervalues its strategic growth plan to reach $1.9 billion in sales by 2030.

Following the announcement, the Accent Group share price was up at $0.75.

Frasers already holds a 22.9% stake in the retail firm after acquiring shares at higher historical prices.

The two companies previously executed an agreement to launch and operate sports retail outlets across the region.

Accent Group rejects $316M takeover bid

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