Edition:
United Kingdom

Sports Direct Says Offer For Debenhams' Magasin Represents Excess Of Fair Value


Monday, 25 Mar 2019 

March 25 (Reuters) - Sports Direct ::STATEMENT REGARDING RESPONSE FROM DEBENHAMS PLC.CONFIRMS OFFER THAT IT BELIEVES REPRESENTS EXCESS OF FAIR VALUE & ADDRESSES DEBENHAMS' IMMEDIATE LIQUIDITY CONCERNS MADE FOR MAGASIN.NOTES DID NOT RECEIVE RESPONSE TO INVITATION TO DEBENHAMS TO PROVIDE FURTHER DETAILS OF VALUATION SHOULD DEBENHAMS MAGASIN TO BE WORTH MORE."SPORTS DIRECT DOES NOT CONSIDER HOUSE OF FRASER TO BE A COMPETITOR OF DEBENHAMS".REPRESENTATIVES AND ADVISORS HAVE PARTICIPATED IN DISCUSSIONS WITH DEBENHAMS' ADVISORY GROUP.CANNOT BE SAID THAT DEBENHAMS HAS "ACTIVELY ENGAGED" IN DISCUSSIONS OR ARE OPEN TO ANY FORM OF ALTERNATIVE PROPOSAL FROM THIRD PARTY. 

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