Plus   Neg

Sports Direct Says Does Not Intend To Make Offer To Acquire Debenhams

Sports Direct International (SDIPF.PK,SPD.L) said that it does not intend to make an offer to acquire the entire issued and to be issued ordinary share capital of Debenhams (DEB.L).

Sports Direct referred to its pre-conditional possible offer for Debenhams plc at 5 pence in cash per ordinary share announced on 25 March 2019. Sports Direct had until 5.00pm on 22 April 2019 to announce either a firm intention to make an offer for Debenhams or that it does not intend to make an offer.

Sports Direct also refers to Debenhams' announcement of 11.40 am on 9 April 2019 stating that Administrators have been appointed to Debenhams.

On April 8, Sports Direct said that Debenhams plc rejected the proposal made by Sports Direct to underwrite a 150 million pounds equity issuance by Debenhams.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT