Takeover: Sporting goods retailer Frasers takes over majority stake in Hugo Boss

The British Frasers Group recently failed with a voluntary takeover bid for Hugo Boss. Now she holds more than half of the shares.

Shirebrook. The British Frasers Group now has sole say at clothing manufacturer Hugo Boss. She now holds 50.08 percent of the shares in the company, as the British announced. If a shareholder exceeds the 50 percent threshold, he or she has an absolute majority.

He can then decide all simple resolutions such as the appropriation of profits or discharge of the board of directors with a simple majority at general meetings. Frasers' shareholding was most recently 47.89 percent, so there was not much left to take over the majority.

This means that the goal announced on September 1st of getting over 50 percent by purchasing additional shares after the narrowly failed takeover offer was achieved.

Frasers Group is majority owned by British billionaire Mike Ashley. The company's most important and best-known brand is the Sports Direct retail chain. The company also holds numerous investments - for example in the online shop Asos.