Mar 25, 2019
Mike Ashley considering cash bid for Debenhams
PA Mike Ashley's Sports Direct has said it is considering making an offer to buy Debenhams outright as a way to save the ailing department store chain. "In Sports Direct's opinion, Debenhams restructuring and refinancing process is likely to result in an adverse outcome for Debenhams existing shareholders," Sports Direct said in a statement to the stock market on Monday. "Accordingly, Sports Direct confirms that, alongside other options, it is considering a possible offer for the entire issued and to be issued share capital of Debenhams not already held by Sports Direct." Debenhams has had plenty offers of help from Mike Ashley in recent days - from a £150m loan to a £100m bid to buy its Danish chain, Magasin du Nord. The offers all had one important string attached: Mr Ashley would become CEO. Debenhams gave him the brush-off, saying his proposals didn't address the company's funding and restructuring requirements.
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