chicot60
05-09-2011, 11:27 AM
Financial Post
Canadian Tire is moving deeper into the sports market, announcing it intends to acquire the owner of sporting goods retailers Sport Chek and Sports Experts in a $771-million deal.
Canadian Tire said Monday in a news release it is seeking to purchase all outstanding shares of Forzani Group, a Canadian sporting goods retailer that has more than 500 retail outlets across the country and annual revenues of $1.4 billion. Canadian Tire's bid would see it pay $26.50 per share in an all-cash deal.
The acquisition has the unanimous support of the Forzani Group board of directors, Forzani Group CEO Bob Sartor said in a release.
Canadian Tire currently owns approximately four per cent of Forzani Group.
Read more: http://www.canada.com/Canadian+Tire+looks+sporting+goods+retailer/4750042/story.html#ixzz1LqzfdSV3
Canadian Tire is moving deeper into the sports market, announcing it intends to acquire the owner of sporting goods retailers Sport Chek and Sports Experts in a $771-million deal.
Canadian Tire said Monday in a news release it is seeking to purchase all outstanding shares of Forzani Group, a Canadian sporting goods retailer that has more than 500 retail outlets across the country and annual revenues of $1.4 billion. Canadian Tire's bid would see it pay $26.50 per share in an all-cash deal.
The acquisition has the unanimous support of the Forzani Group board of directors, Forzani Group CEO Bob Sartor said in a release.
Canadian Tire currently owns approximately four per cent of Forzani Group.
Read more: http://www.canada.com/Canadian+Tire+looks+sporting+goods+retailer/4750042/story.html#ixzz1LqzfdSV3