Sports World considers Blacks bid

Mar 2 2010 By nebusiness

Sports World parent firm Sports Direct International today said it was considering a bid to buy struggling outdoor retailer Blacks Leisure.

Confirmation of its takeover interest comes a week after Sports Direct - controlled by Newcastle United owner Mike Ashley - scuppered fundraising plans being put forward by Blacks.

Sports Direct had earlier snapped up 28.5% of Blacks shares and its aggressive moves sparked speculation it was planning a bid for its high street rival.

In light of the Sports Direct takeover interest, Blacks said it would now look to secure an alternative fundraising to support its recovery efforts, which would only require 50% shareholder approval.