Frasers sets deadline for investors to accept offer for MySale after acquiring 50% of shares

Following MySale’s recommendation to its shareholders to accept the takeover offer last week, Frasers Group has now announced that it acquired 524,907,830 MySale shares at the close of business on Oct. 17 – representing approximately 50.59 percent – and that the offer for Australian retailer is now unconditional after crossing the 50 percent threshold. The group, which owns Sports Direct, House of Fraser and Evans Cycles among others, has now given its investors until 1 pm on Nov. 1, 2022, to accept the offer. Frasers Group also said it intends to acquire further MySale shares “by means of market or other purchases and in accordance with the Takeover Code.”