Frasers declares Accent Group 65-cent offer final
Key points
- Frasers Group declared its $0.65 per share on-market takeover offer for Accent Group as its final price.
- Accent shares have traded between 65 cents and 66 cents since Oct. 7, allowing small on-market stake acquisitions.
- The company noted that no competing bids have emerged in the four months since the offer was announced.
Frasers Group has declared its on-market takeover offer of $0.65 per share for Hype DC and Platypus owner Accent Group (ASX:AX1) to be its best and final proposal.
The revised stance follows a steady period where Accent shares traded between $0.65 and $0.66 since Oct. 7, enabling the bidder to pick up small parcels of stock on-market.
The offer is officially scheduled to close on Jan. 29, 2027.
The company stated that no competing proposal has emerged in the more than four-month period since the offer was announced and suggested a rival bid would now be unlikely to emerge.
Frasers also stated that Accent has continued to prioritise shareholder distributions during a period of material earnings pressure, increased borrowings, and ongoing growth investment obligations, including in the two parties’ agreement to roll out the Sports Direct brand.
Following the announcement, the Accent Group share price was unchanged at $0.65.
Frasers operates a diverse portfolio of sports, fashion, and luxury retail brands across multiple international markets.
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