AUSTRALIA: Harvey's Rebel Sport Bid Could Fail
Gerry Harvey's takeover bid for Australia's Rebel Sport clothes chain could be unsuccessful, say newspaper reports. Harvey made a $52m bid for the sports clothing company some weeks ago. And yesterday the news broke that his Harvey Norman company holds 32.5 per cent of Rebel. Mr Harvey is aiming for at least a 50 per cent share of the company, but newspapers have reported that shareholders are holding on to their stake in Rebel Sport, expecting the company to show greater profits should Mr Harvey take the helm.
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