Frasers launches bid to buy Australia's Accent Group, Big Yellow sells industrial estate in Harrow

Frasers Group has launched a £166 million bid to acquire Accent Group of Australia. The offer is AUD 0.65 per share, targeting Accent’s 23% stake, with the board advising no action. The price matches Accent’s 12 June close and offers no premium. Big Yellow sold its Harrow industrial estate for £38.4 million, subject to a £2 million retention. Proceeds will fund 11 new stores and one replacement, with 12 pipeline stores expected to yield £35 million of net operating income. The transactions imply about a 16.5% income return on £212 million total cost to complete.