What: Frasers Group made a mandatory cash offer to acquire Mysale after becoming its biggest stakeholder in June.

Why it is important: Directors originally urged shareholders to refuse the offer but are now willing to accept what is still believed to be an undervalued offer at 2 pence per share.

The decision to back the offer comes after Frasers Group again upped its stake in the group at the beginning of October and warned it could delist the company from the stock exchange even if the takeover wasn’t accepted. Frasers Group continues to purchase partial or entire stakes in various companies and rivals throughout this and the past few years.

Mysale directors urge shareholders to support Frasers takeover