renegadebusdallas.com
renegadebusdallas.com April 20, 2018


JD Sports lines up £400m USA deal

28 March 2018, 01:03 | Lionel James

JD Sports expects the deal to be earnings accretive

JD Sports

Finish Line has agreed to be acquired by JD Sports for $13.50 per share, representing a deal value of $558 million. JD is the leading European retailer of sports, fashion and outdoor brands. As a result, the company is readily looking to expand its portfolio, as is demonstrated with its recent movements into the French, Spanish and South Korean markets, and now the world's largest sportswear market. "It immediately offers a major presence in the US, a clear next step to further increase our global scale", its Executive Chairman Peter Cowgill said, according to CNBC.

The retailer's move into the largest sportswear market is its boldest yet, increasing JD Sports' importance to global brands, particularly Nike and Adidas.

"It immediately offers a major presence in the United States, a clear next step to further increase our global scale".

Finish Line trades from 556 of its own branded stores across 44 U.S. states and Puerto Rico, and is also the exclusive retailer of athletic shoes, for USA retail giant Macy's. As well as its 556 stores, Finish Line is also the exclusive retailer to Macy's, operating 375 branded and 188 unbranded concessions within Macy stores. So while this merger will help Finish Line's stock price in the short term, as customers look for unique products and brands like Nike shift their focus to emphasize a direct-to-consumer model, how successfully JD and Finish Line get sneakers into the hands (and on the feet) of customers will ultimately determine its long term success. "At a stroke it brings JD multi-channel proposition to the U.S. market for the first time".

Austin bomber left video, police confirm, but his motive remains unclear
And when his vehicle moved, they followed and forced him off the road, setting up the confrontation that ended in an explosion. A suspect in a series of bombings in Austin is dead, according to multiple reports , killed in an officer-involved shooting.

The deal isn't final yet, as both Finish Line and JD Sports' shareholders have to approve the sale. It is expected to close no earlier than June.

Finish Line believes that its sale to JD Sports will provide immediate value to shareholders and move it into a stronger position to compete as part of a global enterprise. This is according to Finish Line's Schaeffer's put/call open interest ratio (SOIR) of 0.09 that ranks in the 5th percentile of its annual range.

Zacks Investment Research downgraded shares of Finish Line (NASDAQ:FINL) from a buy rating to a sell rating in a research note published on Tuesday, February 27th. PJ SOLOMON served as lead financial advisor, Houlihan Lokey Capital, Inc. served as financial advisor and Faegre Baker Daniels LLP served as legal counsel to Finish Line's Special Committee of the Board of Directors in connection with this transaction.



Other News

Trending Now

Furore erupts around Indian PM Modi's app over alleged data sharing
The data mining and analysis firm has come under the scanner for alleged breach of Facebook user data. The saffron party claimed that the NaMo app could be used with giving any permission or data.

Trump tweets threat of funding veto
The veto tweet no doubt surprised Republican congressional leaders, who thought they had secured Trump's approval this week. Instead, Trump won $1.6 billion to begin building and replacing segments of the wall along the border with Mexico .

Kim Jong-Un Visits China in First Overseas Trip Since Assuming Power
Dandong Station was completely blocked, and two trains passed at an interval of about 20 to 40 minutes", Daily NK's source said. Both Bolton and Pompeo have publicly advocated regime change in North Korea , something Tillerson had said wasn't a US goal.

Anthony Joshua vs. Joseph Parker: predictions, betting odds and how to watch
And I'm determined to win . "I'm not doing it just for myself, I'm doing it for my team, my family and my country". We love challenges, we see him as a big challenge which is the reason we want to fight him.

Syria: Rebel group, Russians forge Ghouta plan
The fresh deal comes a day after the Failaq al-Rahman group declared a unilateral ceasefire to negotiate its withdrawal from the region.

Saudis intercept seven missiles fired by Houthis
Yemen is facing sea, land and air blockade which started in 2015 with the positioning of Saudi Arabian warships. Video footage posted to the Al Arabiya English twitter feed shows Patriot launches is streaming out of Riyadh .

No signs of violence in deaths of Iowa family
The more I think about him and the family, the harder it is. "Creston is close-knit like all small towns in Iowa", he added. But the extended family waited until Thursday night to call authorities in case the Sharps had problems with their flight.

Ride-hailing firm Grab buys Uber's Southeast Asia operations
There's been a lot of talk recently about Uber selling their Southeast Asian business to local ride hailing service Grab . Filipino users and driver-partners will greatly benefit from Grab's acquisition of Uber , according to Grab Philippines.

Filming Underway On Marvel Studios' CAPTAIN MARVEL
No word yet on if Melinda May (Ming-Na Wen) will be his partner in the flick, but expect S.H.I.E.L.D.to have a big presence. Pace played Ronan the Accuser in Guardians , a member of the Kree alien race, who are central to the Captain Marvel plot.

North Atlantic Treaty Organisation expels seven Russian diplomats over ex-spy poisoning
British officials have placed the blame squarely on Russian Federation , a charge President Vladimir Putin adamantly denies. Western nations have expelled more than 130 diplomats in recent days.