UK: Pentland Bid For JD Declared Unconditional
Branded clothing company Pentland Group Plc says its bid vehicle's mandatory offer for sportswear chain JD Sports has been declared unconditional after it reached its target for acceptances.
Pentland which launched its offer through Manchester Square Enterprises in May after agreeing to acquire 45 per cent of JD.
Manchester Square received acceptances totalling 56.36 per cent of JD shares, which provides Pentland with majority ownership of the company while keeping its stock market listing.
Pentland, which owns brands including Ellesse, Speedo, Kickers, Berghaus and Red or Dead, emphasised early on that it had no yearning to take the business private.
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