Blacks confirms takeover bid from Mike Ashley's Sports Direct
Wednesday 14 December 2011
The embattled outdoor specialist Blacks Leisure yesterday confirmed the sportswear giant Sports Direct, led by Mike Ashley, and other parties had approached it about a potential takeover.
Following a report in The Independent yesterday, the operator of the Blacks and Millets chains said it had "received an expression of interest from Sports Direct International, among a number of others, which may or may not lead to an offer being made for the company".
The outdoor retail chains Mountain Warehouse, Go Outdoors and Cotswold Outdoor have also thrown their hat into the ring to acquire part or all of Blacks Leisure. The listed group has debts of £36m and made a loss of £16m in the six months to 27 August.
Diving in at the deep end is no excuse for shirking the style stakes
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