UK-based home shopping and education company Findel PLC has agreed to be acquired by retailing company Sports Direct International PLC.
Sports Direct intends to buy the remaining shares it does not already hold in Findel for $2.13 per share.
With the deal, which values Findel at 139.2 million pounds ($183.9 million), both companies will expand on commercial agreements.
The move will be financed from Sports Direct’s existing cash resources and has no intention to make any changes to Findel’s employees and management.