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Monday, March 26, 2018

=Finish Line (FINL) to be acquired by JD Sports Fashion for $13.50 per share


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Finish Line to be acquired by JD Sports Fashion for $13.50 per share 
  • The Finish Line announced that it has entered into a merger agreement providing for JD Sports Fashion Plc to acquire 100% of the issued and outstanding Finish Line shares at a price of $13.50 per share in cash representing an aggregate deal value of approximately $558 million. JD is the leading European retailer of sports, fashion and outdoor brands.
    • The terms of the merger represent a premium of 28 percent for Finish Line shareholders compared to the closing price of Finish Line's shares of $10.55 as of March 23, 2018.
    • This provides an excellent strategic fit for Finish Line and JD. Finish Line moves into a stronger position to compete as part of a global enterprise that leads in the industry. JD gains a significant physical and online retail presence with direct access in the US which they have long identified as a highly attractive growth opportunity.
    • Finish Line and JD together create a leading global, premium, multichannel retailer of sports, fashion and outdoor brands who embraces the latest online and in-store digital technology.

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