Sports Direct considers Blacks bid
02 March 2010 09:15
Sports Direct has confirmed that it is considering an offer for Blacks Leisure Group.
The company added in a statement that there could be no certainty of an offer being made, although speculation that Sports Direct was considering a bid has been circulating since it bought up over 28% of Blacks' shares last month.
Blacks' proposed £20.3 million fundraising plan has been put on hold following the news. In a statement, the outdoor group said: "The board intends to pursue an alternative fundraising for the company but one which will involve only an ordinary resolution being passed (requiring the support of a simple majority of shares being voted on the resolution) in the absence of any concrete takeover proposals from Sports Direct that the board feels that it can recommend".
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