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Drapers Share Monitor - Acquisition talk bolsters Sports Direct

In a typically bold move, Sports Direct owner Mike Ashley this week snapped up 3.14% of sports brand Adidas, the label that has ironically been moving to tighten up its distribution policy to protect it from discounting.

Speculation over whether his next acquisition, and first since Sports Direct's listing in February, would be discount internet business M and M Direct or discount outdoorwear chain Mountain Warehouse helped fuel a 12.5p rise in the share price to 272.5p. This was its first rise on the Drapers Share Monitor since the flotation.

The bid talk surrounding Sainsbury's intensified as rumours emerged that Wal-Mart was pondering a late bid as a consortium including private equity firm CVC prepared its offer, believed to be about 585p per share. Shares fell 5p to 551p.

Debenhams revealed its Sale would start on March 29, but its shares stayed flat at 178.5p.

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