Clothing & Shoes
Frasers renews bid for Norwegian sports retailer XXL
Its shares will cross the 1/3 threshold under the Norwegian Securities Trading Act, which triggers an obligation to make a bid for the remaining shares in the company
Frasers Group has confirmed it intends to make a mandatory offer for Norwegian sporting goods retailer XXL ASA, despite withdrawing its offer to buy more shares in the group only last month. Frasers has now been allocated 21,637,943 of shares of XXL’s rights issue, while 777,289 shares will be issued as compensation for Frasers Group’s guarantee in the issue.
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