Manchester sportswear chain swoops for rival in £90m deal
Manchester based JD sports is set to swallow up its smaller rival Footasylum in a deal worth just over £90m.
A Stock Market announcement was made this morning which revealed that the two firms have agreed a deal.
Under the terms of the deal Bury based JD Sports will buy rival Footasylum for £90.1m.
The offer of 82.5p per share represents a 77.4% premium on Footasylum's Friday closing price of 46.5p.
JD Sport says that Footasylum is a well-established business with a strong reputation for lifestyle fashion with its offeri... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...