Sports Direct bids £61m for Debenhams

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By Mike Turner
27 Mar 2019

Retailer Sports Direct has offered to buy Debenhams for around £61.4m in cash, though the companies disagree on whether Mike Ashley’s firm will be able to deal with the department store’s immediate debt servicing requirements.

In the latest turn in Sports Direct’s dogged pursuit of Debenhams, it is offering a premium of around 127% to the closing price of Debenhams on March 26.

Under the offer, Sports Direct will also help Debenhams deal with its immediate funding requirements. However, Debenhams’ board said this would ...

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