Venture capital firm Cinven has been linked to a takeover bid for sports retailer JJB Sports. Cinven was named by the Sunday Times as the mystery suitor which JJB said on Friday had approached it about a potential deal.
City analysts said that a takeover bid could value the Wigan firm, which operates 448 stores and is run by David Whelan, at about �600m ($1.08bn).
Neither JJB Sports nor Cinven would comment on the approach.
The Sunday Times said that Cinven was thought to have appointed Merrill Lynch to advise on a possible bid.
JJB Sports has struggled in the face of growing competition from Asda and other supermarkerts.
Earlier this year it said full-year profits were likely to be 20% lower than previously expected.
JJB Sports' shares closed on Monday down 5 pence, or 2.07%, at 237p.
One-Minute World News 
News services
E-mail this to a friend 
Printable version 
