Australia’s Accent Group jumps on $276 million takeover bid from Britain’s Frasers Group

Industry:    4 hours ago

Shares of Accent Group soared ​as much as ‌9.2% on Monday after the retailer ​said it received ​a A$390.8 million ($276.1 million) ⁠takeover offer ​from Britain’s Frasers ​Group.

Accent said in a statement advising shareholders not ​to take ​action on the offer, noting ‌that the cash offer price of A$0.65 per share ​is equal ​to ⁠Accent’s closing price on ​June 12, with ​the ⁠deal offering no premium.

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