Sports Direct may raise bid for Blacks Leisure
Sports Direct said it is considering a Â“materially increased offerÂ” for Blacks Leisure after the outdoor clothing retailer rejected its indicative 62p per share bid earlier this month.
However, Sports Direct, which is 71%-owned by Newcastle United owner Mike Ashley, added that it has “become aware of indications” that Blacks management had been selectively disclosing information about suppliers who were unlikely to keep selling stock to the company if Ashley took control.
In a separate statement, Blacks said it is confident that there had been no selective disclosure in breach of the Takeover Code as alleged by Sports Direct.
Blacks added that it continues to consider a fundraising to be in the best interest of shareholders and therefore intends to pursue, as soon as practicable, a pre-emptive fundraising.
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