Hugo Boss shares jump as it says it will ‘thoroughly examine’ Frasers offer

Mike Ashley retail group made near-€2bn takeover bid for fashion house, in which it already has 26% stake

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Shares in Hugo Boss jumped nearly 7% on Thursday after it said it would “thoroughly examine” a near-€2bn takeover offer from Sports Direct owner Frasers Group.

Mike Ashley’s fashion and sportswear group has pounced on the German fashion house, of which it already owns just over 26%, saying late on Wednesdaythat it was offering to pay about €1.98bn (£1.73bn) to take full control of the rest of the business.