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00:02Hugo Boss shares surged around 8%.
00:04Thursday after Fraser's Group, its largest shareholder with a 26% stake,
00:09announced a takeover offer for the German fashion company, according to CNBC.
00:14Fraser's offered 38 euros per share in cash for the remaining Hugo Boss shares,
00:19totaling 1.978 billion euros, about 2.28 billion dollars,
00:25a roughly 4% premium to Hugo Boss' Wednesday closing price.
00:29Hugo Boss said the offer was not coordinated with the company,
00:32and that it would thoroughly examine the deal.
00:35Fraser's shares rose 1%.
00:37Shore Capital analyst David Hughes called the bid strategic,
00:41given Hugo Boss' ambitions as a premium brand.
00:44City analysts said the modest premium could fuel speculation of a higher offer.
00:48Fraser's said the deal, pending regulatory clearances,
00:51is expected to close in the second half of 2026.
00:54For all things money, visit Benzinga.com.
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