Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

JJB supports Nike's bid for Umbro

JJB Sports has given its support to US footwear giant Nike's plans to buy Umbro.

The sports chain has agreed to vote in favour of Nike's acquisition of its shareholding in Umbro at 193.06p per share.

Non-executive chairman Roger Lane-Smith said: "We believe that accepting Nike's cash offer for Umbro is in the best interests of our shareholders and accordingly we are providing an irrevocable commitment to accept Nike's offer for Umbro."

The undertaking will lapse if a competing offer Umbro is announced at a price of 210p per Umbro share.

The proceeds of the sales will be used to reduce borrowings.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.