JD Sports strikes $1.1bn deal to expand into US [Yahoo! Finance]
GXO Logistics, Inc. (GXO)
Company Research
Source: Yahoo! Finance
The trainers group has swooped for Alabama-based chain Hibbetts, which stocks basketball shoes and other sneakers by brands like Nike and Adidas. The deal accelerates JD's rapid push into the US market and represents the largest takeover ever for the retailer, which was founded in 1981 in Bury, Manchester. JD will pay $87.50 per share, a 20pc premium to Hibbet's share price. JD shares rose 6pc to 124p but they remain bruised after a January profit warning took them from the 170p level. Regis Schultz, the French businessman who leads JD, said: “Hibbett's footprint is highly complementary, adding a stronger presence in communities across the south-eastern US, where we currently have a limited presence. It will also provide a stronger platform for the rollout of the JD fascia in the US.” JD's US swoop bucks the trend for American suitors flocking to the UK stock market for deals. A number of takeovers this year, including GXO Logistics' takeover of Wincanton , International Pape
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GXO
News
- XPO Reports First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- GXO Completes Acquisition of Wincanton [Yahoo! Finance]Yahoo! Finance
- GXO Completes Acquisition of WincantonGlobeNewswire
- GXO helps Virgin Media O2 cut single use plastic [Yahoo! Finance]Yahoo! Finance
- GXO helps Virgin Media O2 cut single use plasticGlobeNewswire
GXO
Earnings
- 2/13/24 - Beat
GXO
Sec Filings
- 5/1/24 - Form 8-K
- 4/29/24 - Form 8-K
- 4/29/24 - Form 424B2
- GXO's page on the SEC website