Deals
JD Sports in Deal to Acquire Finish Line for $558 Million
- Mike Ashley’s Sports Direct holds stake in U.S. retailer
- Deal would expand JD presence into U.S. sportswear market
Photographer: Luke MacGregor/Bloomberg
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JD Sports Fashion Plc agreed to buy U.S. sportswear retailer Finish Line Inc., seeking to snatch away a company in which Mike Ashley’s Sports Direct International Plc has built a stake.
The agreement is valued at a total of $558 million. Sports Direct International, a U.K. rival of JD Sports, is the second-largest shareholder in Indianapolis-based Finish Line, with a 9.9 percent stake. Ashley’s company also holds an indirect interest of 32 percent, according to a Sports Direct statement on Feb. 20.