Furniture and floorings retailer ScS Group PLC (LON:SCS) has ruled out a takeover of sofas and chairs seller Sofa.com, clearing the path for Sports Direct International PLC (LON:SPD) boss Mike Ashley to make an offer of his own.
In response to press speculation earlier this week, ScS told the market it was in talks with Sofa.com, which put itself up for sale at the end of last year.
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But it confirmed today that those talks have now ended, and it will not be making an offer.
“The group confirms that ScS Group plc is no longer in discussions regarding a potential acquisition of the business and assets of Sofa.com,” it said in a brief stock exchange announcement.
That leaves retail guru Ashley clear to launch his own takeover bid, with various reports claiming that the Newcastle United owner is the only other interested party.
Sofa.com has concessions in House of Fraser, the department store chain rescued by the billionaire last August.
Since then, Ashley has bought Evans Cycles out of administration, while he has reportedly shown an interest in snapping up HMV and Patisserie Valerie, both of which are on the verge of collapse.
ScS shares edged 0.4% higher in late-afternoon trading on Friday.
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