Moulton's Better Capital Poised for JJB Sports Raid - Sky's Kleinman
08/10/2012| 11:58am US/Eastern
Jon Moulton's Better Capital PCC Ltd. (>> Better Capital PCC Ltd) is planning to acquire struggling U.K. sports retailer JJB Sports (>> JJB Sports plc), Sky News City Editor Mark Kleinman reports Friday without revealing where he got the information.
Better Capital has approached JJB Sports and Lloyds Banking Group (>> Lloyds Banking Group PLC), its principal lender, about buying the company's outstanding debt, Kleinman reports.
The report says that Lloyds rebuffed Better Capital's overtures while JJB is understood to be unwilling to engage ahead of a revised turnaround plan being assembled by Beverley Williams, its interim chief executive.
Mr. Moulton faces competition from Invesco--JJB's largest shareholder--and other unnamed parties, according to Kleinman.
JJB Sports and Better Capital declined to comment when contacted by Dow Jones Newswires.
Full story: http://news.sky.com/story/971098/exclusive-moulton-poised-for-jjb-raid
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