Finish Line Will Merge with JD Sports
Months after Britain’s down and dirty Sports Direct had flirted with the idea of acquiring Little Foot, it agreed to a much friendlier transaction with the leading up-market sports chain in the U.K. that will sell 100% of Finish Line to JD Sports at $13.50 per share in cash that values the chain at $558 million. It will give JD Sports an entry into the U.S. market, and the Finish Line management team will remain in place. Sports Direct still has a 10% direct interest in Little Foot, but Little Foot’s poison pill was enough to keep it at bay. ... Log in to view full article.