Foot Locker rumoured to be in line for USD 70-per-share cash bid from PE group
Foot Locker, the New York-based listed sportswear retailer, is rumoured to be in the sights of a private-equity consortium, The Daily Mail reported. The market report said unattributed chatter suggested a cash bid of USD 70 per share is being prepared.
A new management team would then kickstart a plan for significant expansion in Europe, especially in the UK, where Foot Locker’s current 23 sites would be doubled, as per the unattributed chatter, the report said.
The report noted that such a deal might threaten the dominance of the UK-based listed sporting-goods retailer Sports Direct International.
The Times also noted the rumours of a PE approach for Foot Locker but said traders were skeptical of the gossip.
Source Daily Mail