A British retailer has lobbed a zero-premium takeover offer at Australia's largest shoe store chain after their partnership went south, in hopes of at least gaining more influence over its board.
Frasers Group is offering 65 cents a share for Accent Group in an on-market takeover offer that values the Platypus, Hype DC and The Athlete's Foot owner at $390 million.
Accent Group shares, which closed at 65 cents on Friday, jumped almost 12 per cent to 73 cents by noon on Monday.
Frasers owns the UK-based sporting goods giant Sports Direct, which Accent began launching in Australia in 2025 in partnership with Frasers as part of what was initially going to be a 50-store rollout over six years.
That target was downgraded in May to eight stores by December and 30 stores within three years, with the 50-store goal deferred to an undefined time frame, apparently disappointing Frasers executives.
