Accent Group falls, Morningstar recommends shareholders to ignore Frasers' bid

Frasers

16/06/2026 02:41

Updates
** Shares of Accent Group AX1.AX fall as much as 2% to A$0.735, underperforming the benchmark S&P/ASX 200 index .AXJO, which is down 0.5%
** Britain's Frasers Group FRAS.L on Monday launched a takeover bid at an offer price of A$0.65 per share, offering no premium
** Accent advised shareholders to ignore the offer from Frasers, its top shareholder
** Accent shares rallied over 15% on Monday, implying expectations of a higher offer from Frasers or other bidders
** Morningstar sees takeover as a mechanism for Frasers to accumulate stock cheaply
** Research firm finds offer significantly undervalued and recommends ignoring it
** Eleven analysts, on average, recommend 'hold' on Accent, with median PT at A$0.73, according to LSEG-compiled data
** Accent shares down ~22% YTD, Frasers up 11.1%

 (Reporting by Nichiket Sunil and Anjali Singh in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com))