Home / Knowledge / News / Apparel/Garments / JD Sports Fashion will not bid for JJB
JD Sports Fashion will not bid for JJB
15
Mar '11
On 2 February 2011 JD Sports Fashion announced that it was in early stage discussions with the Board of JJB Sports in relation to making an offer for JJB Sports, after consenting to being named in a prospectus that was shortly to be issued by JJB Sports.

Prior to 2 February 2011, JD Sports Fashion had received only limited non-public information relating to JJB Sports. JJB Sports then issued its prospectus on 2 February 2011 and, on 11 February 2011, announced the outline of a proposed restructuring of its property portfolio through a company voluntary arrangement of each of JJB Sports and its wholly owned subsidiary Blane Leisure Limited.

Despite requests made with a view to enabling it to put forward alternative proposals for the future of the JJB business, since the beginning of February 2011 JD Sports Fashion has received no further information whatsoever from JJB Sports.

Following a detailed assessment of the opportunity from the further public information made available in the detailed CVA proposals issued on 3 March 2011, JD Sports Fashion now confirms that it has decided that it does not intend to make an offer for JJB Sports.

Under Rule 2.8 of the City Code on Takeovers and Mergers (the "Takeover Code"), and except with the consent of the Takeover Panel, this statement will prevent JD Sports Fashion or anyone acting in concert with it from announcing an offer or possible offer for JJB Sports or taking certain other action within the next six months, unless there has occurred an event, as set out below, which enables this statement to be set aside.

For the purposes of Rule 2.8 of the Takeover Code, JD Sports Fashion reserves the right to make or participate in an offer for JJB Sports (and / or take any other action which would otherwise be restricted under Rule 2.8 of the Takeover Code) within the six months following the date of this announcement:

(i) with the agreement or recommendation of the Board of JJB Sports;

(ii) following the announcement of an offer by or on behalf of a third party for JJB Sports;

(iii) following the announcement by JJB Sports of a "whitewash" proposal or a reverse takeover;

(iv) if either or both of the arrangements respectively proposed by JJB Sports plc and Blane Leisure Limited in a document issued on 3 March 2011 is or are not agreed by the requisite majority or majorities of creditors; or

(v) if there is a material change of circumstances.

JD Sports Fashion Plc


Must ReadView All

Serbian economy minister Goran Knezevic (left) and Taypa president Mesut Toprak after signing the MoU. Courtesy: Serbian Government/SeeNews

Textiles | On 20th Oct 2017

Turkish group Taypa to build textile factory in Serbia

Turkish textile group Taypa will invest euro 35 million ($41.2...

China’s textile & apparel exports rise 4.3% in Sept ’17

Textiles | On 20th Oct 2017

China’s textile & apparel exports rise 4.3% in Sept ’17

Registering an increase of 4.3 per cent year-on-year, the exports of...

Courtesy: Messe Frankfurt

Textiles | On 20th Oct 2017

Heimtextil to focus on textile solutions for architects

Heimtextil 2018, world's leading trade fair for home and contract...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.9%
No
13.2%
Skip
8.8%

Total Votes: 68

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
27.9%
Skip
10.3%

Total Votes: 68

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.3%
No
10.3%
Skip
4.4%

Total Votes: 68

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.0%
No
11.8%
Skip
13.2%

Total Votes: 68


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search