Jon Moulton's Better Capital PCC Ltd. (BCAP.LN) is planning to
acquire struggling U.K. sports retailer JJB Sports (JJB.LN), Sky
News City Editor Mark Kleinman reports Friday without revealing
where he got the information.
Better Capital has approached JJB Sports and Lloyds Banking
Group (LLOY.LN), its principal lender, about buying the company's
outstanding debt, Kleinman reports.
The report says that Lloyds rebuffed Better Capital's overtures
while JJB is understood to be unwilling to engage ahead of a
revised turnaround plan being assembled by Beverley Williams, its
interim chief executive.
Mr. Moulton faces competition from Invesco--JJB's largest
shareholder--and other unnamed parties, according to Kleinman.
JJB Sports and Better Capital declined to comment when contacted
by Dow Jones Newswires.
Full story:
http://news.sky.com/story/971098/exclusive-moulton-poised-for-jjb-raid
Write to London bureau at generaldesklondon@dowjones.com
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