Frasers Group launched an unsolicited on-market takeover bid for Australian retailer Accent Group. The UK-based firm currently holds a 22.9% stake in the company. Frasers offered A$0.65 cash per share for the remaining equity. This price represents zero premium to the June 12, 2026, closing price.
Frasers cited significant concerns regarding Accent’s strategic direction and financial performance as the motivation for the bid.
Accent’s board advised shareholders to take no action regarding the offer. Directors noted that Frasers previously purchased shares for more than A$0.90 earlier this year. The board is currently preparing a formal target statement and recommendation.
Accent shares rose over 9% following the announcement. The stock is currently trading above the A$0.65 offer price.