Hibbett jumps after European rival JD Sports' $1.08 bln buyout deal

Hibbett

23/04/2024 10:02

** Shares of sportswear retailer Hibbett  HIBB.O  up 18.3%
at $85.74 premarket vs buyout offer of $87.50/share
    ** British rival JD Sports  JD.L  to buy Hibbett in $1.08
bln all-cash deal
    ** JD Sports' shares also gain
    ** Offer represents a premium of about 20% to Hibbett's last
closing price
    ** Athletic clothing retailers under pressure globally after
weak outlooks from the likes of Nike  NKE.N  and Puma  PUMG.DE 
    ** Hibbet shares flat so far this year and up about 26% in
the past 12 months

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))