RE: Frasers RNS Take over offer for Accent15 Jun 2026 14:37
Hexam, i concede to having limited expertise on Takeover Code, but my interpretation is that if Frasers does submit a tender offer for all shares (much like he has being doing) then it has to be conditional on him gaining 50% voting rights.
It is unlikely that Kamani or Camelot would sell for an opportunistic bid. However, PIs may be more agreeable. In order to get half of free flat though to be successful, then it needs a decent premium.
Frasers cannot simply tender at 35p and take it's shareholding to, say 37%. That is not allowed.
This is my understanding of the 50% Acceptance Rule for takeover bids.