Frasers Group plc (FRAS.L, SDIPF), a retail and consumer goods company, on Monday announced an all-cash takeover offer to acquire Accent Group Ltd. (AX1.AX) that it does not already own.
The company is offering AUD 0.65 per Accent share.
The offer is scheduled to open on June 30 and close on July 30, unless withdrawn or extended.
The company said that based on Accent's current shares outstanding, the offer values the shares not already owned by Frasers at approximately AUD 316 million or GBP 166 million.
The company currently owns a 22.9% stake in Accent.
Barrenjoey Markets Pty Ltd. will acquire Accent shares on behalf of Frasers at the offer price beginning June 15.
On Friday, Frasers Group closed trading 1.67% higher at GBp 792 on the London Stock Exchange.
On Friday, Accent Group closed trading 15.38% higher at AUD 0.7500 on the Australian Securities Exchange.
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