UK's Frasers Group rises takeover offer for Australia's Accent Group

Frasers

Today 08:24

** Shares of sporting goods retailer Frasers Group FRAS.L rise as much as 3.4% to 819p, highest since October 2024 
** Co launches buyout offer for Australian footwear and sportswear retailer, Accent Group AX1.AX at A$0.65 per share 
** Total consideration for deal about A$316 million ($223.54 million) 
** FRAS already holds 22.90% of AX1 
** YTD, stock up ~18%
     
     
     
($1 = 1.4136 Australian dollars)

 (Reporting by Roshni Srivastava in Bengaluru)
 ((roshni.srivastava@thomsonreuters.com))