Sports Direct climbs as Debenhams saga continues

FTSE 250 clothing retailer Sports Direct (LON:SPD) has seen its shares rise by 2.14% to 287p (as of 12:40 BST) after the company announced that it would continue to pursue all available options to support Debenhams. The firm’s offer to underwrite a £150 million equity issuance was rejected yesterday, but the firm has noted that it is still actively considering its pre-conditional cash offer of 5p per share.

However, there is no confirmation at this time that a takeover would take place and if the equity issuance goes ahead that will be instead of rather than in addition to the possible offer.