Frasers Group Moves to Acquire Remaining XXL ASA Shares

XXL ASA (GB:0R3P) has released an update.

Frasers Group plc is set to launch a voluntary offer to acquire all remaining shares of XXL ASA at NOK 10 per share, presenting a 25% premium over the previous closing price. This move comes after XXL’s proposed rights issue was challenged, potentially causing significant dilution to minority shareholders. Frasers, already a major shareholder, aims to leverage its retail expertise to address XXL’s challenges and improve its stock and cash flow situation.

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