Sports Direct Wins Bid Contest for Boxing Glove-Maker Everlast
21/09/2007 |
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Sports Direct International Plc, the U.K. sporting-goods retailer founded by billionaire Mike Ashley, completed the $182.3 million acquisition of boxing-glove maker Everlast Worldwide Inc., winning a takeover contest.
The transaction was completed after approval by Everlast shareholders, Cheadle, England-based Sports Direct said today in a Regulatory News Service statement.
Sports Direct raised its offer for New York-based Everlast to $33 a share from $30 in June after buyout firm Hidary Group tried to derail the deal with its own bid. Hidary originally offered $26.50 a share on June 1 and later bid $31.25.
(Source: Bloomberg.com)
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