Frasers Makes Offer for Struggling Norwegian Sports Retailer (2)

Frasers Group Plc intends to make an offer to buy all the shares of struggling Norwegian sporting goods retailer XXL ASA following a shareholder revolt over management’s plans to fund a turnaround.

The Mansfield, UK-based company plans to offer 10 kroner ($0.9) a share in cash to buy all the equity it doesn’t already own in XXL, representing a premium of 25% over Thursday’s closing price, according to a statement. The total deal size to acquire all the shares is about 246 million kroner.

The Norwegian retailer has struggled with a persistently weak sporting goods market after ten consecutive ...