Gart offers $445.2 million for 70% of Sports Authority

Article Abstract:

The Gart Sports Company has offered Sports Authority Inc. $445.2 million for a 70% stake. The reamining 30% would be publicly traded. The offer comes several weeks after Venator Group had offered Sports Authority a stock trade valued at $513.6 million. Sports Authority, a sporting goods retailer with 205 superstores and revenues of about $1.47 billion annually, may potentially find itself in the middle of a bidding war. The sporting goods industry, made up of regional stores and a small number of national stores, has been looking to consolidate itself due to the low profit margins of individual stores.

Comment:

Gart Sports offers Sports Authority $445.2 million for a 70% stake

Asset sales & divestitures, Acquisitions & mergers, Sporting Goods, Bicycle Stores, Sporting Goods Stores, Bicycle stores, Sports Authority Inc., Gart Sports Co.

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Profit warning sends DuPont's stock down 9.1%

Article Abstract:

DuPont Co. reported that third-quarter earnings will be at the low end of analysts' expectations. The company plans to restructure old-line businesses during the next two years. Weak demand in Asia and low oil prices for its Conoco Inc. unit are responsible for the compoany's disappointing performance. The company is reinventing itself from a cyclical chemicals maker into a life-sciences company.

Comment:

Reported that third-quarter earnings will be at the low end of analysts' expectations

Sales, profits & dividends, Chemicals & Allied Products, Chemical Manufacturing, Chemicals, E.I. du Pont de Nemours and Co.

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