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JD Sports Fashion is said to be considering a bid for rival JJB Sports.
JD Sports’ management this week requested a meeting with JJB’s management through Investec, JD’s investment banking adviser, to discuss the retailer’s stake building, according to The Times.
On Tuesday JD Sports bought a 10 per cent stake in its rival. It said: “JD has made this strategic investment in JJB because of its important place in the performance sports retail market.”
JJB also confirmed this week that it had received a bid for its fitness club arm, believed to be from its founder Dave Whelan, for about £100 million.
JD is thought to want to take on the retail arm of the business. Were a sale to go through, it would mean JD had more than 800 sportswear stores across the UK.
Topics: Takeover / Mergers, JD, JJB |
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