Frasers Group PLC (LSE:FRAS) has announced a significant extension to its on-market takeover bid for Accent Group Limited (ASX:AX1). Accent Group Limited is a prominent Australian retail company, primarily known for its extensive portfolio of footwear and apparel brands across Australia and New Zealand, making it a key player in the region’s retail sector. The UK-headquartered international retail group has moved to prolong the offer period for all fully paid ordinary shares in Accent that it or its associates do not currently own, reflecting a continuation of its strategic interest.
The extension means that the comprehensive takeover offer, which is being conducted under Chapter 6 of the Corporations Act 2001 (Cth), will now close at 4:00 pm (Sydney time) on Friday, 29 January 2027. This adjustment significantly shifts the deadline from the previously announced closing date of 30 September 2026. Frasers Group, a major international player in sports, fashion, and lifestyle retail, first formally outlined its intentions for Accent Group in its initial bidder’s statement dated 15 June 2026, which was subsequently updated and supplemented on 10 August 2026.
This notice of variation was formally issued by Frasers Group PLC in accordance with section 649C of the Corporations Act, a standard procedure for adjusting such bids. The company clarified that, unless the offer is further extended or withdrawn in strict accordance with Australian corporate law requirements, the new date will serve as the definitive final opportunity for Accent Group shareholders to consider and accept the offer. Christopher Wootton, a Director of Frasers Group plc, formally signed off on the notice, which has been duly lodged with the Australian Securities and Investments Commission (ASIC) and ASX Limited today. This ensures all relevant parties are informed of the updated timeline for the takeover bid.
