‘It’s obvious Frasers wants to frustrate the company’: Mike Ashley pulls off the gloves in Accent bid
The UK billionaire has accused the HypeDC owner of potentially misleading its own shareholders as part of an unorthodox ploy for the company.
UK retail billionaire Mike Ashley’s London listed vehicle has accused Accent Group of potentially misleading its own shareholders by dismissing his nil premium takeover offer, as the battle for control of the HypeDC and Platypus retailer turns nasty.
Ashley’s Frasers Group on Tuesday evening appealed to the Takeovers Panel arguing that Accent had not “clearly disclosed reasons, which are soundly based and reasonable” for suggesting its nil premium offer undervalues the company.
It also said that the reasons Accent used to justify rejecting the offer “have the potential to mislead Accent shareholders if presented in the unqualified manner in which they have been presented”.
By attempting to draft in the Takeovers Panel “it’s obvious Fraser wants to frustrate the company here”, TAMIM Asset Management head of Australian Equities Ron Shamgar told Capital Brief.
