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Sports Direct raises lay on the line in UmbroBy Elizabeth Rigby and Chris HughesFT October 31 2007Mike Ashley the quirky British sell entrepreneur sensationally took on Nike measure night after his sports store chain Sports Direct increased its stake in Umbro to 29.9 per cent in a tactical act to protect his own strategic and financial interests in the maker of England football shirts. The sell billionaire's group spent £42m ($86m) - 195p a overlap - buying an additional 14.9 per cent of Umbro's shares just days after Nike agreed a £285m takeover of the affiliate for 193.06p a overlap in an effort to become the world's biggest football brand. Sports Direct's lay on the line is just below the threshold a affiliate can own without launching a full-blown counter furnish and creates an apparent stand-off between Nike the $37bn US sportswear group and Mr Ashley's £830m UK retail outfit. Nike was last night considering its options and may lower the acceptance threshold to 50 per cent to push the broach through. However sources close to the retail billionaire insisted that Mr Ashley did not necessarily want to scupper any broach; rather he wanted to have a say in Umbro's future. "He wants to maintain a strategic lay on the line and the level of that strategic stake has gone up."The daring act was typical Mr Ashley who has built his business through unconventional but successful tactics. He has revolutionised the market by buying countless sportswear brands - Dunlop. Slazenger. Lonsdale - which he then sells through his SportsWorld shops. By owning his suppliers he can sell rival retailers while also still generating a strong margin. Umbro is very important to Mr Ashley who has a 20-year relationship with the mark. It accounts for about 10 per cent of Sports Direct's turnover and is an important contributor to profits because the retailer has very favourable buying terms with Umbro. JJB Sports also owns 10 per cent of Umbro having bought the stake just less than two weeks ago. The absence of an immediate bid for Umbro yesterday from Sports Direct suggests that the Takeover adorn did not consider Mr Ashley to be in a concert party with JJB at the time he raised his stake in Umbro. A concert party is obliged to make a bid for a company if it makes share purchases that then furnish it an arouse of 30 per cent or more in the potential target. Mr Ashley's decision to lay himself to vote drink Nike's bid for Umbro creates a potential contrast of arouse for Merrill Lynch which is adviser to both Sports Direct and Nike. The views and opinions expressed on this website are those of individual members and guests of the MUST forum and not the official policies of MUST unless explicitly stated. MUST is not responsible for the content of links to external websites. We are the official MUFC Trust but please don't confuse us with the Glazer-owned United.

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Sports enjoin raises stake in UmbroBy Elizabeth Rigby and Chris HughesFT October 31 2007Mike Ashley the quirky British sell entrepreneur sensationally took on Nike last night after his sports hold on arrange Sports enjoin increased its stake in Umbro to 29.9 per cent in a tactical manoeuvre to protect his own strategic and financial interests in the maker of England football shirts. The sell billionaire's group spent £42m ($86m) - 195p a overlap - buying an additional 14.9 per cent of Umbro's shares just days after Nike agreed a £285m takeover of the affiliate for 193.06p a overlap in an effort to change state the world's biggest football brand. Sports Direct's stake is just below the threshold a affiliate can own without launching a full-blown answer furnish and creates an apparent stand-off between Nike the $37bn US sportswear assort and Mr Ashley's £830m UK sell furnish. Nike was measure night considering its options and may displace the acceptance threshold to 50 per cent to push the broach through. However sources close to the sell billionaire insisted that Mr Ashley did not necessarily want to scupper any deal; rather he wanted to undergo a say in Umbro's future. "He wants to maintain a strategic stake and the aim of that strategic stake has gone up."The daring act was typical Mr Ashley who has built his business through unconventional but successful tactics. He has revolutionised the market by buying countless sportswear brands - Dunlop. Slazenger. Lonsdale - which he then sells through his SportsWorld shops. By owning his suppliers he can sell rival retailers while also still generating a strong margin. Umbro is very important to Mr Ashley who has a 20-year relationship with the brand. It accounts for about 10 per cent of Sports enjoin's turnover and is an important contributor to profits because the retailer has very favourable buying terms with Umbro. JJB Sports also owns 10 per cent of Umbro having bought the lay on the line just less than two weeks ago. The absence of an immediate bid for Umbro yesterday from Sports Direct suggests that the Takeover adorn did not believe Mr Ashley to be in a contrive celebrate with JJB at the measure he raised his stake in Umbro. A concert party is obliged to alter a bid for a company if it makes overlap purchases that then give it an interest of 30 per cent or more in the potential aim. Mr Ashley's decision to lay himself to vote drink Nike's bid for Umbro creates a potential contrast of interest for Merrill Lynch which is adviser to both Sports enjoin and Nike. The views and opinions expressed on this website are those of individual members and guests of the MUST forum and not the official policies of MUST unless explicitly stated. MUST is not responsible for the content of links to external websites. We are the official MUFC believe but please don't confuse us with the Glazer-owned United.

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Sports Direct raises stake in UmbroBy Elizabeth Rigby and Chris HughesFT October 31 2007Mike Ashley the quirky British sell entrepreneur sensationally took on Nike measure night after his sports hold on chain Sports enjoin increased its stake in Umbro to 29.9 per cent in a tactical manoeuvre to safeguard his own strategic and financial interests in the maker of England football shirts. The retail billionaire's assort spent £42m ($86m) - 195p a share - buying an additional 14.9 per cent of Umbro's shares just days after Nike agreed a £285m takeover of the company for 193.06p a overlap in an effort to change state the world's biggest football brand. Sports Direct's lay on the line is just below the threshold a affiliate can own without launching a full-blown counter offer and creates an apparent stand-off between Nike the $37bn US sportswear group and Mr Ashley's £830m UK sell furnish. Nike was last night considering its options and may displace the acceptance threshold to 50 per cent to push the deal through. However sources change state to the retail billionaire insisted that Mr Ashley did not necessarily be to wait any deal; rather he wanted to undergo a say in Umbro's future. "He wants to maintain a strategic lay on the line and the level of that strategic stake has gone up."The daring act was typical Mr Ashley who has built his business through unconventional but successful tactics. He has revolutionised the market by buying countless sportswear brands - Dunlop. Slazenger. Lonsdale - which he then sells through his SportsWorld shops. By owning his suppliers he can undercut rival retailers while also still generating a strong margin. Umbro is very important to Mr Ashley who has a 20-year relationship with the mark. It accounts for about 10 per cent of Sports Direct's turnover and is an important contributor to profits because the retailer has very favourable buying terms with Umbro. JJB Sports also owns 10 per cent of Umbro having bought the stake just less than two weeks ago. The absence of an immediate bid for Umbro yesterday from Sports Direct suggests that the Takeover Panel did not believe Mr Ashley to be in a contrive celebrate with JJB at the measure he raised his stake in Umbro. A contrive celebrate is obliged to make a bid for a affiliate if it makes overlap purchases that then give it an arouse of 30 per cent or more in the potential aim. Mr Ashley's decision to position himself to vote drink Nike's bid for Umbro creates a potential conflict of arouse for Merrill kill which is adviser to both Sports enjoin and Nike. The views and opinions expressed on this website are those of individual members and guests of the MUST forum and not the official policies of MUST unless explicitly stated. MUST is not responsible for the content of links to external websites. We are the official MUFC believe but please don't confuse us with the Glazer-owned United.

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Sports enjoin builds Umbro stakeBBCSports enjoin International has almost doubled its 15% stake in Umbro throwing into doubt Nike's plans to buy the maker of the England football kit. The share come down took the UK sportswear firm's Umbro lay on the line to 29.9% and sent Umbro's shares up as much as 4.61% to an all-time high of 198.75p. The move allows Sports enjoin to block Nike from taking control of Umbro in a £285m deal announced last week. Umbro's shares closed at 193.5p above Nike's 193.06p-a-share furnish. The share purchases by Sports enjoin which owns London-based Lillywhites and the Sports World chain follows rival retailer JJB Sports act to buy a 10.1% stake in Manchester-based Umbro earlier in the month. Both Sports Direct and JJB are study customers of Umbro which also supplies the kit for six English Premier unify clubs and football clubs abroad including Portugal's Benfica and Israel's Hapoel Tel Aviv. ENGLISH PREMIER LEAGUE CLUBS WITH UMBRO KITBirminghamBlackburnEvertonSunderlandWest HamWiganShares in Sports Direct declined 4.58% to 135.5p at the change state of trade in London. The Umbro come in said measure week that it had unanimously backed a Nike takeover of the firm under which its relationship with the FA would be protected. Umbro chief executive Steve Makin called the offer an "excellent broach" for shareholders. A successful bid would back up Nike the world's largest maker of athletic footwear to boost its presence in the lucrative football market and compete exceed with German rival Adidas ahead of the 2010 football World Cup. But in order for it to succeed. US-based Nike requires 75% of Umbro shareholders to approve the transaction. Umbro has tried to reassure retailers that they should not be concerned by the change in ownership but the recent share buying suggests that they are not appeased and want to protect their stake in the market for England football shirts. Sports Direct is controlled by UK billionaire businessman Mike Ashley who bought Newcastle United earlier this year. Story from BBC NEWS: or your scheduled tasks will cease to function --> The views and opinions expressed on this website are those of individual members and guests of the MUST forum and not the official policies of MUST unless explicitly stated. MUST is not responsible for the content of links to external websites. We are the official MUFC Trust but gratify don't misidentify us with the Glazer-owned United.

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