Sports Direct International plc (LSE:SPD) made an offer to acquire the remaining 70.3% stake in Debenhams plc (LSE:DEB) for £43.2 million on March 25, 2019. Sports Direct International plc will offer £0.05 per share of Debenhams plc. The offer is pre-conditional upon Debenhams plc immediately appointing Mike Ashley as its Chief Executive Officer, terminating the noteholder consent solicitation process, Debenhams plc agreeing not to enter into any third party funding arrangements, granting any new security over any of its assets or entering into any administration, CVA or other insolvency process. As of April 9, 2019, administrators have been appointed to Debenhams. Luke Bordewich, Stuart Ord and George Fry of Numis Securities Limited acted as financial advisors to Sports Direct International plc. Marcus Taylor of Lazard acted as financial advisor to Debenhams plc.

Sports Direct International plc (LSE:SPD) cancelled the acquisition of remaining 70.3% stake in Debenhams plc (LSE:DEB) on April 9, 2019.