Sports Direct reveals it no longer intends to bid for Goals

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Shirebrook’s Sports Direct has now revealed that it does not intend to make an offer for Goals Soccer Centres.

In a statment to the London Stock Exchange, the company said that it had “only limited and fitful access and cooperation from the board of Goals to support Sports Direct’s possible offer.” Sports Direct said it was therefore “unable to complete the necessary due diligence to progress the offer.”

The retailer continued to note that the board of Goals continues to pursue the AMA process it set out on 29 August 2019, stating that “if successful, Sports Direct believes [the process] will result in significant dilution in value for those shareholders who do not participate in the AMA process and be to the detriment of certain creditors.”