Frasers launches bid to take over Norway's XXL

(Sharecast News) - Mike Ashley's Frasers Group said on Friday that it was launching a voluntary offer for all the shares in Norwegian sporting goods retailer XXL that it does not already own at 10 Norwegian kroner per share. The offer values XXL at approximately NOK246.36m.

Frasers is currently the second largest shareholders in XXL with an interest of just under 26%.

Chief executive Michael Murray said: "Our strategic vision and industry experience position us uniquely to help XXL navigate its current challenges. We are committed to ensuring that XXL reaches its full potential."