Jun 29, 2026 – 10.29amAustralia’s largest footwear retailer, Accent Group, has urged its shareholders to reject a hostile takeover bid from Frasers Group, warning that ceding control to the British retail giant would likely result in an immediate halt to dividend payments.The ASX-listed footwear giant, which operates brands such as Athlete’s Foot, Hype DC, Nude Lucy and SportsDirect, labelled the zero-premium bid as “materially inadequate”, opportunistic and below the company’s current share price.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Athlete’s Foot, Hype owner says takeover would kill dividends
Frasers Group has stated in its takeover bid statement for Accent that it would not support dividend payments for the foreseeable future.
TL;DRAI
Accent Group rejects Frasers Group's zero-premium hostile bid, calling it materially inadequate and below current share price. The bid rejection highlights consolidation risks and dividend policy tensions affecting large-cap valuations in retail M&A.
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