AUSTRALIA: Harvey's Rebel Sport Bid Could Fail
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.
The deadline for acceptances is July 25. Gerry Harvey has said if he is unsuccessful, he will simply walk away.
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