Reversal: Super Micro Stock Plummets 13%
On June 11, shares in Hugo Boss jumped after Britain’s Frasers Group launched a takeover bid; Reuters and TradingView say the stock rose more than 11% and traded above the €38 offer price, while MSN’s Reuters write-up put the gain at about 7%.
Frasers Group, already Hugo Boss’s largest shareholder, offered €38 per share in cash for the roughly 74% it does not already own, according to the Wall Street Journal and Reuters/TradingView.
The proposal values the remaining stake at about €1.98 billion, per MarketScreener, or roughly $2.3 billion, per Reuters and MSN, and The Globe and Mail notes the offer is a 4.3% premium to Wednesday’s close.
WSJ says Frasers holds about 26% of Hugo Boss; the companies are based in the U.K. and Germany, respectively.
Synthesized from 8 sources
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AI-synthesized from multiple reported sources
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