Hugo Boss to make recommendation on Permira bid when offer document published |
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Published
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Mon, 04 Jun 2007 09:30
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FRANKFURT (Thomson Financial) - Hugo Boss AG said it will meet its obligation to make a recommendation on Permira's offer for all outstanding share of the company once an official offer document has been published.Permira's Luxembourg-based investment vehicle Red & Black on Friday said it will make a voluntary public takeover offer for all shares of Hugo Boss at the average share price of the past three months.The company did not say when it expects to publish an offer document.Red & Black last month bought a 29.6 pct stake in Valentino Fashion Group SpA, which holds 79 pct of common shares and 22 pct of preference shares of Hugo Boss, and is currently in exclusive talks to buy a further 24 pct stake in Valentino from members of the Marzotto family.maria.sheahan@thomson.commas/hjpCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Hugo Boss unlikely to be merged into Valentino in course of Permira buy - CEO 