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... For the full story register now for free or login below...