JJB.L Regulatory News (JJB)

29 Jan 2008 11:00

JJB Sports PLC29 January 2008 29 January 2008 JJB Sports plc supports Nike offer for Umbro plc JJB Sports plc ("JJB") announces that it has today entered into an irrevocable undertaking with NIKE Vapor Ltd ("Nike") to vote in favour of the scheme of arrangement relating to the acquisition of Umbro plc ("Umbro") by Nike at 193.06p per Umbro share in respect of 14,779,712 ordinary shares of 1p each in Umbro, being the whole of JJB's shareholding in Umbro. Roger Lane-Smith, JJB's Non-executive Chairman, commented: "We believe that accepting Nike's cash offer for Umbro is in the best interests of our shareholders and accordingly we are providing an irrevocable commitment to accept Nike's offer for Umbro." This irrevocable undertaking will lapse in the event that a competing offer forUmbro is announced at a price of not less than 210 pence per Umbro Share. Should the offer complete, the proceeds of the sale will be used to reduce borrowings. Ends Chris RonnieDavid GreenwoodJJB Sports plc 01942 221400 Lydia PretzlikRichard FarnsworthMaitland 020 7379 5151 A copy of this press release can also be viewed on the JJB Sports plc corporatewebsite, www.jjbcorporate.co.uk This information is provided by RNS The company news service from the London Stock Exchange