Mike Ashley's latest dealmaking gives his company a 30pc stake in Hugo Boss - Yui Mok/PAMike Ashley's Frasers has upped its stake in Hugo Boss after the retail billionaire tabled a £2.3bn takeover bid for the German fashion house. The board of Hugo Boss rejected Mr Ashley's initial approach at €38 (£32) per share earlier this month, insisting the bid was "inadequate" and undervalued the brand. "The offer of €38 per Hugo Boss share remains open for shareholders to accept." Hugo Boss shares have traded between €37.90 and €38 in recent weeks, following Frasers' approach. Shareholders in Hugo Boss, which is promoted by Sir David Beckham and Naomi Campbell, have until July 27 to accept the proposed deal.