British retail giant Frasers Group is all set to make one more final bid for Australian online fashion discounter MySale.
If media reports are anything to go by, then the Group will be making a mandatory cash offer to buy the entire share of MySale.
The move follows Frasers’ acquisition of 48.5 per cent of MySale’s stock – which included the shareholding of latter’s former chairman Carl Jackson.
Earlier this month, shareholders of MySale rejected a 2p-per-share takeover bid from the Group. MySale had then said that the bid did not reflect an adequate value or premium for control of MySale.
The latest cash offer, Fraser believes, will provide MySale shareholders with the opportunity to achieve an immediate liquidity event.
The Mike Ashley-owned Frasers Group, earlier known as Sports Direct International, generated £ 3,957.4 million in 2020.
