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Blacks Leisure rejects Sport Direct approach
Blacks Leisure has rejected "wholly inadequate" 62p-a-share takeover offer from Sports Direct
Last month, Sports Direct blocked Blacks from raising about £20m from shareholders as part of a drive to open new stores.
"The Board continues to consider the implementation of a fundraising for the Company to be in the best interest of shareholders as a whole and therefore intends to pursue, as soon as practicable, a pre-emptive fundraising which would be structured in such a way as to only require an ordinary resolution being passed (requiring a simple majority of shares being voted on the resolution." the company said in a statement.
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