Back on the 15th June 2026, Frasers (FRAS LN), footwear/clothing play Accent (AX1 AU)‘s largest shareholder (22.3%), launched a hostile on-market Offer at A$0.65/share, a zero premium to last close.
Just 0.6% of shares out have since tendered. Frasers has now declared its Offer, currently scheduled to close on the 29th January 2027, best & final.
There’s no love lost between Frasers and Accent’s chairman Lawrence Myers. And the spectre of a second strike at next month’s AGM, and subsequent board spill, loom.
Accent is not very liquid - look away if this is not your bag
The Trade:
This is an hostile Offer.
Investor fatigue settling in with Accent now trading almost at terms.
I’d be picking up shares around here as a back-end trade as Frasers gradually gets its way.