Mike Ashley’s retail group has made near-€2bn bid for the German fashion house, in which it holds a 26% stake

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Shares in Hugo Boss jumped nearly 10% on Thursday after the company said it would “thoroughly examine” a near-€2bn takeover approach from the Sports Direct owner Frasers Group.

Mike Ashley’s fashion and sportswear business has pounced on the German fashion house, in which it already owns just over a 26% stake, saying late on Wednesday that it was offering about €1.98bn (£1.73bn) to take full control .

Fashion and sportswear group, which owns 26% of the German luxury brand, is now seeking full control

Mike Ashley’s retail group, Frasers, has launched a near-€2bn takeover offer for the German luxury fashion brand Hugo Boss.

The fashion and sportswear group, which owns 26% of Hugo Boss, said it is offering to pay about €1.98bn (£1.73bn) for the remainder of the business to take full control.