Frasers Group fell 2.4% to 773p after launching an unconditional on-market takeover offer for Australia's Accent Group, offering A$0.65 per share.
The Mike Ashley-backed retail group already has a relevant interest in 137.7 million Accent shares, equal to about 22.9% of the company’s issued capital and voting power.
Barrenjoey Markets Pty Limited, acting as Frasers’ broker, said it will buy Accent shares offered on market at the offer price, covering up to 463.5 million shares not already held by Frasers or its associates, plus any additional shares issued during the offer period.
The offer officially opens on 30 June 2026 and is due to close on 30 July 2026, unless extended, withdrawn or varied in line with the Corporations Act.
