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Sport Direct May Buy Blacks Leisure Through Debt, The Times Says

Sports Direct International Plc (SPD), the U.K’s biggest sporting-goods retailer, may seek to acquire Blacks Leisure Group Plc by buying some of its debt, The Times reported, citing a source close to the process.

Sports Direct shares surged 10.5 percent yesterday to 210 pence after the retailer said it dropped an offer to acquire Blacks Leisure and Numis Securities Ltd. upgraded it to “buy” from “hold.”

Sports Direct declined to comment further, The Times said.

To contact the reporter on this story: Matthew Brown in London at mbrown42@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

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