Umbro receives approach

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Umbro plc has confirmed in a statement to the stock exchange that the company “has received an approach, which may or may not lead to an offer being made for the entire issued share capital of Umbro.”

Reports in today’s national press suggests the approach has been made by Nike. The news has sent shares in the Cheshire company up 53p to 173.

Sports Direct owns a 15 per cent stake in the company, JJB owns 10.12 per cent.

Umbro has said a further announcement will be made in due course.

 

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