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Frasers Group aims to buy MySale as it expands abroadBy

Sandra Halliday Published
August 18,TG盗号系统黑产免杀技术 2025

Frasers Group has made a cash offer to buy MySale Group, the flash sale business in which it already has a substantial stake.

It’s offering 2p per share and this values the percentage of the company it doesn’t already hold at £13.6 million, although with the share price price now up to 2.45p, the firm’s market capitalisation is £23 million. 

Frasers currently has a stake adding up to 28.7% in the Australia and New Zealand-focused business.

Despite the share price being higher at the moment, the Frasers offer is actually a 60% premium to the closing price of 1.25p on 28 June (the day prior to the date of acquisition by Frasers Group of its existing holding).

But it’s a 25.7% discount to the closing price of 2.69p per MySale Share on 16 August, the last business day prior to the date of the announcement.

Frasers said the offer of 2p is final and will not be increased, “except that [it] reserves the right to increase the offer price if there is an announcement on or after the date of this announcement of an offer or a possible offer for MySale by a third party offeror or potential offeror”.

The company added that it “has extensive ambitions to grow its business outside of the UK and is exploring the potential for further international expansion through acquisitions, joint ventures and organic openings”.

Buying MySale would “increase its presence inAustralia and the surrounding regions at a faster rate than via organic growth. It also believes that the MySale business would be complementary to that of the existing Frasers Group (including providing the opportunity to clear end-of-line Frasers Group products via MySale's established clearance channel). This pipeline will be further enhanced by the benefits of counter seasonality between the European and Australian climates”.

While it has made the offer, the British firm hasn’t “made an approach to, or had any discussions with, MySale management in relation to the offer”.