JD Sports lines up £400m United States deal

Reuters

JD Sports is to acquire 100% of the issued share capital of The Finish Line line at a price of $13.50 per share in cash. BNP Paribas Arbitrage SA grew its position in Finish Line by 25.9% during the 3rd quarter. The company's institutional ownership is monitored at 93.1 percent. Prior to today's jump, Finish Line stock had desperately needed a shot in the arm, falling 27% in 2018. Prudential Financial Inc. now owns 462,090 shares of the specialty retailer's stock worth $5,559,000 after purchasing an additional 14,900 shares during the last quarter.

The Finish Line executive team will continue forward under the new ownership. The firm has a market cap of $399.23, a price-to-earnings ratio of -37.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.16. Public Employees Retirement System of OH now owns 10,969 shares of the specialty retailer's stock worth $155,000 after purchasing an additional 1,504 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in Finish Line during the third quarter worth about $176,000. Finally, ING Groep NV raised its stake in shares of Finish Line by 92.8% in the fourth quarter.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 19th.

Shore Capital analyst Clive Black is similarly enthused, writing: 'JD Sports continues with its worldwide strategy and this transaction will scale that up significantly with enhanced revenues and earnings from a new United States division. If you are viewing this story on another site, it was illegally copied and reposted in violation of US and worldwide copyright laws. The original version of this piece can be read at https://weekherald.com/2018/03/26/finish-line-finl-downgraded-by-susquehanna-bancshares-to-neutral.html.




The retailer's move into the largest sportswear market is its boldest yet, increasing JD Sports' importance to global brands, particularly Nike and Adidas.

Finish Line Cl A (NASDAQ:FINL) has a market capitalization of $399.21 Million and most recently 37.84 Million outstanding shares have been calculated.

"Finish Line has long admired JD and their commitment to serve customers with premium brands through a unique and innovative retail experience", said Sam Sato, CEO, Finish Line. In turn, JD will become responsible for the U.S. retailer's 556 branded retail stores across 4 USA states and in Puerto Rico, whilst also taking on the company's ecommerce business.

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