Mike Ashley's Frasers offers £1.73bn to buy all of Hugo Boss

The retail group already owns just over a quarter of the German fashion brand but wants to buy the rest of it.

Frasers Group, led by Mike Ashley, has announced a €1.98 billion (£1.73 billion) takeover offer for Hugo Boss, offering €38 per share for the remaining shares it does not already own.

Frasers Group, which owns Sports Direct, has launched a takeover offer for Hugo Boss, valuing the remaining shares at €1.98 billion (£1.73 billion) and offering €38 per share.

Frasers Group, which already owns 26% of Hugo Boss, is offering approximately €1.98 billion (£1.73 billion) to acquire the remaining shares and take full control.

Frasers Group has launched a takeover offer for German luxury fashion brand Hugo Boss, offering €38 per share for the remaining shares it does not already own.

Frasers Group has formally launched a €2 billion takeover bid for Hugo Boss, offering €38 per share for the remaining shares it does not already own.