Mike Ashley’s Frasers Group is extending the offer period to shareholders in its hostile takeover bid for Accent Group.

The ASX-listed Accent has so far told shareholders not to respond to Frasers’ approach, arguing the offer price of 65 cents per share is “insufficient” and calling the timing “opportunistic”.

Frasers Group originally told Accent shareholders to respond by September 30 to its offer, but has now extended the closing date to January 29, 2027.

In a previous statement to shareholders, Accent said those who accept the offer from Frasers “will not participate in any future increase in the value of Accent Shares, any future dividends declared by Accent, or any potential benefits from Accent’s standalone strategy, including the 2030 strategic growth plan”.

Frasers – which held around a 22.9 per cent stake in Accent before launching the offer – said it was “a great believer in the strength of the brands sold through Accent’s retail network”.

But its director Christopher Wootton added that the company has “significant concerns regarding Accent’s strategic direction and performance under its chairman, Lawrence Myers, and the incumbent management team”.

Accent recently reported a total of $1.64 billion in sales in fiscal 2026, and a net loss of $13.8 million.