Debenhams could be bid target for Landmark Group or Sports Direct
Debenhams shares gained 0.7% yesterday, 3 June on renewed talk that the UK-based department store operator might attract a bid from either Landmark Group or Sports Direct, the Financial Times reported. The newspaper’s market report section did not cite a source for the speculation.
The item noted the investment firm Milestone Resources is the second-largest investor in Debenhams with a stake of 7.2%. Milestone’s owner Micky Jagtiani is the chairman of Landmark Group, the report added.
As previously reported, Mike Ashley is the controlling shareholder in Sports Direct.
Debenhams’ share price closed 0.7p up at 94.8p in London yesterday, giving the company a market capitalisation of GBP 1.16bn (EUR 1.57bn).
Financial Times