March 4, 2019 / 10:54 AM / 17 days ago

CORRECTED-BRIEF-Sports Direct Offers To Buy Findel For 139.2 Mln Stg

(Corrects to drop extraneous words from headline)

March 4 (Reuters) - Sports Direct International PLC:

* MANDATORY OFFER FOR FINDEL PLC

* TO ACQUIRE 6 MILLION FINDEL SHARES AT A PRICE OF 161 PENCE PER FINDEL SHARE FROM A SINGLE SHAREHOLDER, CITY FINANCIAL ABSOLUTE EQUITY FUND

* FINDEL SHAREHOLDERS SHALL BE ENTITLED TO RECEIVE 161 PENCE IN CASH FOR EACH FINDEL SHARE

* PROPOSED DEAL FOR £139.2 MILLION

* CO INTENDS TO WORK CLOSELY WITH FINDEL TO EXPAND THEIR EXISTING COMMERCIAL ARRANGEMENTS FOR BENEFIT OF BOTH COS

* HAS NO INTENTION TO MAKE ANY CHANGES TO CONTINUED EMPLOYMENT OF FINDEL’S EMPLOYEES AND MANAGEMENT

* OFFER WILL BE FINANCED FROM EXISTING CASH RESOURCES OF SPORTS DIRECT

* HAS NO INTENTION TO MAKE ANY CHANGES TO STRATEGIC PLANS FOR FINDEL

* EXPECTED THAT THERE WILL BE NO REPERCUSSIONS ON EMPLOYMENT OR LOCATIONS OF FINDEL’S PLACES OF BUSINESS

* SPORTS DIRECT DOES NOT BELIEVE THAT OFFER WILL AFFECT SPORTS DIRECT GROUP

* FOLLOWING ACQUISITION, CO TO, IN AGGREGATE, HOLD 31.9 MILLION FINDEL SHARES, 36.8 PERCENT OF FINDEL’S ISSUED SHARE CAPITAL, AND VOTING RIGHTS Source text for Eikon: Further company coverage:

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