JD Sport’s proposed acquisition of Footasylum moves step closer

JD Sport’s planned £90m takeover of Footasylum has moved a step closer to completion after being approved by shareholders in mid-April.

JD already owned a stake in Footasylum after buying a percentage of its issued share capital in February.  They subsequently made a £90m bid for the remaining shares and the acquisition was made unconditional on April 12^th.

JD has now sent a formal compulsory acquisition notices to Footasylum’s shareholders, who are yet to accept the offer.

The shares transfer in accordance with the compulsory acquisition notices is due to happen on June 5.