Blacks Leisure confirms bid approaches
11 February 2009 09:19
Blacks Leisure has confirmed that it has received "approaches concerning a possible offer for the group".
One of the approaches is thought to be from Sports Direct founder Mike Ashley who holds a 29.9% stake in the company although this has not been confirmed.
The company said discussions were at an early stage and there was no certainty any offer would be made.
Blacks' shares jumped 42% on the news, despite a profits warning last month in which the company said that a 14.9% fall in profits at its boardwear division would drag annual profits to below market expectations.
As well as 258 Millets stores and 110 Blacks Outdoor sites, the group has 41 boardwear stores under the Freespirit brand and 12 O'Neill sites.
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