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BURY – JD Sports has announced that it will acquire footwear brand Footasylum for £90.1 million. The leading UK sportswear retailer is to pay 82.5p per share, which marks a 77.4 per cent increase on Footasylum’s closing price of 46.5p last week.

JD Sports had formerly announced that it had no intention of making an offer to Footasylum despite then buying an 8.3 per stake; it later raised this to 18 per cent before agreeing to buy the firm outright.

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