Sports Direct has confirmed that it is not considering an acquisition of footwear retailer Office. The FTSE 100 company said recent speculation over a possible deal was "unhelpful to the customers, staff, suppliers and other stakeholders of both companies".
The board of the UK sports retailer has had its fair share of concerns over past few weeks particularly with the remuneration of its billionaire founder Mike Ashley.
The company's attempt to reward Ashley with a bonus looks set to fail after three major shareholder bodies publicly urged investors to vote against the latest bonus scheme.
Sports Direct’s third attempt at paying its deputy chairman comes after a shareholder rebellion forced the company to scrap plans for a bonus scheme worth £73m in April. A similar plan was also rejected in 2012.