The Office of Fair Trading (OFT) has published the full text of its decision to refer the acquisition by Sports Direct International plc (Sports Direct) of 31 stores from JJB Sports plc to the Competition Commission (CC). The OFT originally agreed to accept undertakings in lieu of a reference on the basis that Sports Direct divested five stores. However, Sports Direct failed to identify purchasers for the five stores and the OFT considered that Sports Direct would not be able to find suitable purchasers even if given an extension. Accordingly, on 7 August 2009, the OFT referred the acquisition to the CC.
Full Text of OFT Decision
To read the full text of the OFT decision click here.