Sports Direct pulls bid for Blacks Leisure March 31, 2010 SPORTS Direct yesterday said it would not bid for Blacks Leisure because it couldn’t be sure that suppliers would support such a move, ending an increasingly hostile takeover battle. Sports Direct, controlled by Newcastle United soccer club boss Mike Ashley, said it was aware certain key suppliers would not support a takeover and said that [...]
Sports Direct yet to agree Blacks deal March 29, 2010 SPORTS Direct will have to shelve its takeover bid for Blacks for six months if the two fail to agree on an offer price by Thursday. Its hopes of merging the retail giants have been put in jeopardy after claims that some key suppliers, including North Face, would not continue to work with Blacks if [...]
Sports Direct to up Blacks bid March 28, 2010 Sports Direct could up its bid for Blacks Leisure despite fierce opposition. Mike Ashley, owner of Newcastle United, is expected to significantly increase the £26m bid already on the table. However, he will also have to win over suppliers, including North Face, who are believed to be considering withholding their stock should Ashley take control [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 22, 2010 FINANCIAL TIMES MOD TALLIES COST OF CUTTING PROJECTS The Ministry of Defence has instructed its equipment managers to calculate the cost of cancelling all individual programmes in the latest sign of the budget squeeze it faces. The directive, issued in the past two weeks, underlines that no programme, even if under contract with industry, is [...]
First Lady of Football Brady eyeing last laugh at embattled West Ham March 22, 2010 ANYONE willing to succeed the much-loved Margaret Mountford as Alan Sugar’s sidekick on The Apprentice is clearly on first-name terms with daunting tasks, but Karren Brady may have surpassed herself with the role of vice-chairman at West Ham. Among the Premier League’s most illustrious clubs but staring down the barrel of financial ruin, they are [...]
Sports Direct given deadline for Blacks bid March 21, 2010 CLOTHING retailer Sports Direct must bid for Blacks Leisure by 1 April or walk away, the takeover watchdog has ruled, setting a timetable for the conclusion of a long-running and bitter takeover battle. Blacks said it had rejected a £39m approach from the group controlled by Newcastle United soccer club boss Mike Ashley. The Takeover [...]
Blacks turns down bid from Sports Direct March 19, 2010 BLACKS Leisure has turned down a takeover offer from Sports Direct, branding it “wholly inadequate”. Sports Direct, which owns brands including Dunlop and Slazenger, had offered 62 pence per share. The Blacks group includes Millets and Freespirit as well as the Blacks shops and has recently closed 87 shops as part of a cost-cutting programme. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 15, 2010 THE SUNDAYS The Sunday Telegraph NIGERIA’S STATE OIL TO GO PRIVATE Nigeria’s state-owned National Petroleum Corporation (NNPC) has initiated talks with investment banks including Standard Chartered, JP Morgan, and Deutsche Bank to explore financing options as it changes into a fully privatised commercial company. GAMING GIANT TO SEEK LISTING Gala Coral, which is set to [...]
Lions and luxury in SA’s top resort March 14, 2010 IF the job of a hotel is to make guests feel at home, then you can’t really beat the Pezula Resort Hotel & Spa. When the French football team arrive there this summer they will be greeted with a barrage of “bonjours” from the staff, who are all taking French lessons, just to ensure that [...]
Enron survivor sails to success March 11, 2010 BUDDING entrepreneurs consider this: you co-found a business and, after a while, you realise the culture isn’t right for you. What do you do? John Paskin abandoned his first dream of becoming an entrepreneur in 2007 and went back to his corporate job as an IT manager at BP and waited until the time was [...]