Mike Ashley sitting pretty with takeover

Mike Ashley sitting pretty with takeover”

Billionaire Mike Ashley, who controls British sportswear retailer Sports Direct, agreed to acquire for "a nominal sum", Sky News reported on Friday, ending a battle with ScS Group to buy the maker of handcrafted beds and sofas.

LGT European Capital owns and has appointed KPMG to handle the bids, although it is not clear what figure the online business is priced at.

Mr Ashley also owns stakes in French Connection, Findel, Game Digital and Debenhams, where he has tightened his grip by ousting the chairman.

However, it said in a stock market update: "ScS, one of the UK's largest retailers of upholstered furniture and floorings, provides an update on the recent press speculation regarding the potential acquisition of Limited".

More news: Lionel Messi injured in draw with Valencia and could miss Clasico

ScS said on Friday that it is "no longer in discussions" with the firm about a deal.

Since then, Ashley has bought Evans Cycles out of administration, while he has reportedly shown an interest in snapping up HMV and Patisserie Valerie, both of which are on the verge of collapse.

LGT European Capital took control of the business a year ago, but has now engaged KPMG to find a buyer for it.

Like this



03 February 2019
USAID assistance in the West Bank and Gaza has ceased
Since US President Donald Trump took office, relations between the Palestinian Authority and the White House have deteriorated. The crunch over funding for security coincides with the end of all USAID projects in the Palestinian territories.

03 February 2019
England make fantastic start in Six Nations with big Ireland win
Joe Schmidt's side got off to the worst possible start after England's eight-year wait for a try in Ireland ended after just 95 seconds. "We know they're a top team".

03 February 2019
In 2018, AWS delivered most of Amazon's operating income
Amazon's workforce grew by 48 percent in 2016 and 38 percent in 2017, not including major acquisitions, Olsavsky said. AWS accounted for 10 percent of the company's net sales in the quarter, up from 8 percent in the year-earlier period.

03 February 2019
Record Breaking Fentanyl Seizure In Arizona
The United States had a record 72,000 deaths from drug overdoses in 2017, with opioids responsible for most of those fatalities.

03 February 2019
BP to come clean on climate pledges
That includes exploration projects, acquisitions, technological investments and the development of existing oil and gas fields. However, the company has faced much criticism regarding the specifics of its AET strategy - or lack thereof.

03 February 2019
U.S. Declares Visa Restrictions On Ghana
Embassy in Accra will continue as normal and the visa restrictions will not affect other consular services. The threat follows Ghana's failure to issue traveling documents to its citizens awaiting deportation.

03 February 2019
Windows 10 Bug Prevents Installing Updates (Microsoft Responds)
The operating system was most recently updated past year when the American tech giant released its October 2018 Update to fans. Back in 2014 when Microsoft pulled support for Windows XP, more than 25 percent of devices were still running it.

03 February 2019
Irving gets cheers and a win at MSG as Celtics beat Knicks
Irving could have said nothing, but he didn't. "Obviously they're making moves to position themselves for this upcoming summer. Further, Irving said of his potential change of heart about staying in Boston: "I don't owe anybody [expletive]".

03 February 2019
Chinese Factory Activity Contracts For Second Straight Month - PMI
Manufacturers also continued to cut jobs, a trend Beijing is closely watching as its weighs more support measures. New orders - an indicator of future activity - pointed to further pressure in coming months.

03 February 2019
Sri Lanka's Karunaratne in no danger after being hit by Cummins bouncer
Some loose bowling on a batting friendly wicket saw both Patterson and Paine smash 14 boundaries in their stay on the wicket. UPDATE: Dimuth Karunaratne has been discharged from Canberra hospital following assessment and all cleared.