The Swiss department store owner, which also has major interests in French clothing firm Lacoste, has bought 788,930 shares in Gant, corresponsing to 4.7 percent of the company’s capital and voting rights.
Maus Frères, which on December 11th launched a hostile takeover bid for Gant, now owns 23.7 percent of the Swedish firm.
The bid by Maus Frères for Gant is worth 310 kronor per share. Shareholders controlling more than 55 percent of the shares in Gant have already rejected the offer from the Swiss company. This group includes the company’s three founders, their families and holding companies, as well as four of Gant’s largest so-called master franchise owners.