×
61 810
Fashion Jobs
DISTRIBUTION CENTERS
Quality Control Manager - Supply Chain
Permanent · Dallas
CORPORATE
sr Manager, Email Marketing, Performance Optimization & Mobile Marketing
Permanent · Dallas
NEIMAN MARCUS
Sales Manager, Men's Department - Michigan Avenue
Permanent · Chicago
TALENT
District Manager
Permanent · Nashville
TALENT
District Manager
Permanent · Leesburg
TALENT
District Manager
Permanent · Hartford
ROSS STORES
Security Analyst (IT Risk)
Permanent · Dublin
ROSS STORES
sr. Loss Prevention Manager
Permanent · Hawthorne
MACY'S
Asset Protection Detective, Westfarms - Part Time
Permanent · Farmington
MACY'S
Asset Protection Detective, Carousel Center - Full Time
Permanent · Syracuse
MACY'S
Asset Protection Detective, Oxmoor - Full Time
Permanent · Louisville
MACY'S
Manager, Operations
Permanent · Secaucus
MACY'S
Manager, Vendor Paid Sales- Origins Cosmetics
Permanent · New York
MACY'S
Multi-Store Detective, Mall in Columbia - Full Time
Permanent · Columbia
MACY'S
Multi-Store Lead Detective, Mall in Columbia - Full Time
Permanent · Columbia
MACY'S
Manager, Business Administration
Permanent · Douglasville
MACY'S
sr Manager, Regional Fulfillment - sw
Permanent · Brea
MACY'S
Manager, Style Merchandise Execution - Parks at Arlington
Permanent · Arlington
MACY'S
Asset Protection Detective, Montgomery - Full Time
Permanent · Bethesda
MACY'S
Asset Protection Detective, San Francisco Union Square - Full Time
Permanent · San Francisco
MACY'S
Asset Protection Detective, Valley Fair - Part Time
Permanent · Santa Clara
MACY'S
Asset Protection Detective, Summerlin - Part Time
Permanent · Las Vegas
Published
Mar 27, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Sports Direct could offer 5p a share for Debenhams

Published
Mar 27, 2019

The daily Debenhams news flow is continuing. The latest development is that Sports Direct is still considering making an offer for the company and it has put a price on its interest this time too. 


Debenhams


The company on Wednesday confirmed that it is “considering making a firm offer for the entire issued and to be issued share capital of Debenhams not already held by Sports Direct” and that it has told Debenhams its terms.

It would offer 5p in cash per ordinary share, which “would value the total currently issued share capital of Debenhams (excluding treasury shares) at approximately £61.4 million.”

The possible offer “if made, would represent a premium of approximately 127% to the closing price of Debenhams shares on 26 March.” And the company said that “Sports Direct would also assist Debenhams in addressing its immediate funding requirements,” subject to certain pre-conditions.
Those pre-conditions include Mike Ashley immediately being named as the department store chain’s CEO and the company “terminating the noteholder consent solicitation process it announced on 22 March,” which means ending the funding talks it’s currently taking part in.

The possible offer is also “pre-conditional upon the Debenhams group agreeing not to enter into any third party funding arrangements, granting any new security over any of its assets or entering into any administration, CVA or other insolvency process. Each of these pre-conditions must be satisfied or waived before any firm offer can be made.”

It said it thinks it terms “would offer fair and full value for Debenhams” and doesn’t believe that the retailer “has the same value if it is (in effect) handed over to Debenhams' existing lender group. As such, Sports Direct would expect the possible offer to be attractive to Debenhams shareholders and other stakeholders as an alternative to Debenhams' current restructuring and refinancing process.”

Copyright © 2022 FashionNetwork.com All rights reserved.