JD Sports in talks regarding potential offer for JJB sports
It has been revealed that competitors JD Sports and JJB sports have been in talks regarding a potential offer for the under pressure JJB sports. While no figures have been mentioned and indeed no confirmation has been received that an offer could be presented in the short-term, there is a feeling that JD sports made clear to JJB management that they were considering such a move.
Those who follow the saga will know that JJB Sports is in serious financial trouble and has been having problems with credit lines of late. JD Sports recently acquired a 10% stake in the business and while they may be looking at a possible merger, Mike Ashley will play a major part in any such deal as he has a 22% interest in JJB Sports and 13% in JD Sports through his Sports Direct International company.
There is speculation that competition issues could well be overcome by arguing that the government allowed the Lloyds TSB and HBOS merger through even though there are competitive concerns. This is pure speculation at the moment, about any potential bid for the company but it looks as though a JJB Sports is in play and there will be some activity over the following weeks.
Share this..
Related stories
UK government announces crackdown on UK credit cards
The UK government has, as expected, issued a report which criticises the UK credit card industry and looks to put right a variety of wrongs which have impacted upon the financial well-being of many people. Prime minister Gordon Brown has "come out of hiding" to take centre stage in an attack on the financial sector, yet again, and more promises to improve the situation for consumers around the UK....
Read MoreLloyds bank launches £13.5 billion rights issue
Today we have seen Lloyds bank launch a £13.5 billion rights issue which is roughly in the middle of market expectations. This is the first step in the next phase of the recovery process for Lloyds bank and will allow the company to buy itself out of the UK government's asset protection scheme and also inject further capital into the company's balance sheet. So what next for Lloyds bank?
<...
AIG refuses to back down in bonus row with US government
Fallen insurance giant AIG, which was forced to beg US authorities for $170 billion to survive, has refused to hand over details of employees who received $165 million in bonuses from the financial products division - the operation which many see as the main culprit for the collapse in the US economy. It seems as though Gordon Brown is not the only government leader who has fallen foul of banking...
Read MoreIs David Cameron right to attack public sector pensions?
Over the last couple of days we have seen some momentous decisions regarding public sector pensions which on the surface appear fairly innocuous but will have major consequences for those working in the public sector. Some doomsday scenarios suggest that by changing the inflation index from the retail price index to the consumer price index some public sector workers could see their pension paymen...
Read MoreSkills shortage 'solved by training'
Businesses should take responsibility for the UK's skills shortage by investing more in their employees, according to the Chartered Institute of Personnel and Development (CIPD). The human resources organisation believes line managers are key figures in making sure this development takes place.A survey released today by the CIPD shows that while 90 per cent of respondents think line managers have...
Read More