Sports Direct and Blacks in dispute over suppliers
Sports Direct is “seriously considering” a material increase in its proposed bid for Blacks Leisure, but has accused its rival of breaching the takeover code. The two companies are in dispute over reports that some key suppliers would not supply Blacks if the Sports Direct bid was successful. Blacks said this morning that Sports Direct had accused it of “selectively disclosing” the information and had threatened to report it to the Takeover Panel. Northampton’s Blacks denied any wrongdoing, countering that fundraising was still in its “best interests” and that it intends to pursue, “as soon as practicable”, a pre-emptive fundraising. Earlier this month, Sports Direct, which has until 1 April to make a bid or walk away, announced it was considering a bid at 62 per cent a share, which Blacks rejected as “wholly inadequate”.
