24th Nov 2020 12:38
(Alliance News) -Â Department store Debenhams is in exclusive talks with JD Sports PLC over a rescue takeover, The Times reported on Tuesday.
The newspaper said it is understood FTSE 100-listed athleisurewear retailer JD Sports is interested in buying the whole of Debenhams and on Monday entered exclusive talks with Lazard, its adviser, and administrators at FRP.
JD Sports is thought to be attracted to Debenhams because of its website, The Times reported.
The Times also said Mike Ashley's Frasers Group PLC - which owns Sports Direct and recently boosted its stake in luxury bag maker Mulberry Group PLC - was bumped out of the Debenhams sale at the start of the month after failing to meet the GBP300 million asking price.
https://www.thetimes.co.uk/article/jd-sports-in-rescue-talks-to-buy-all-of-debenhams-kr5frd9h2
Shares in JD Sports were down 6.6% at 759.40 pence in London on Tuesday.
By Lucy Heming;Â [email protected]
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Related Shares:
JD SportsMulberry GroupFrasers Group