Sports Direct boss suffers new blow as Findel shareholders reject £130m takeover bid
Shareholders at Lancashire based Findel Group have roundly rejected Sports Direct’s £130m takeover bid.
Mike Ashley, the owner of Sports Direct, launched the takeover bid in March after he raised his stake in the online retailer which has bases in Manchester and Accrington.
The Sports Direct tycoon’s company agreed to buy shares in Findel worth £9.7m, taking its stake in Findel from 29.9% to 36.8%.
A second deadline has passed and just 0.01% of Findel’s shareholders have accepted the offer which values shares at £1.6... 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...