Frasers Takeover

Hugo Boss’s managing and supervisory boards stated that Frasers did not coordinate with them on the takeover proposal. The German company will issue a reasoned statement after reviewing the offer document. Frasers has publicly expressed support for Hugo Boss’s chief executive Daniel Grieder and chair Stephan Sturm, reversing its earlier stance that it no longer had confidence in Sturm. The proposed acquisition remains the sole source of significant new information affecting Hugo Boss’s strategic direction, financial performance, and potential impact on capital markets.