Accent Group Responds to Frasers' Final Offer
Key points
- Accent Group rejects Frasers' final offer price of A$0.65 per share
- Independent Board Committee (IBC) maintains recommendation to shareholders to reject the offer
- Frasers' offer aims to increase influence over the Accent Board without a control premium
- Shareholders urged to vote at the upcoming Annual General Meeting
Full summary
Accent Group Limited (ASX: AX1) has responded to Frasers Group plc's final offer price of A$0.65 per share, reiterating its recommendation for shareholders to reject the offer. The Independent Board Committee (IBC) of Accent Group believes the offer does not provide a control premium and is an attempt by Frasers to increase its influence over the Accent Board without paying for it. The IBC urges shareholders to vote at the upcoming Annual General Meeting to maintain the current board composition.
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