September 13, 2018 / 7:40 AM / 2 months ago

BUZZ-Debenhams: Slips after Sports Direct rules out bid

Sept 13 (Reuters) - ** Debenhams slips as much as 12.1 pct on Thursday, after Mike Ashley’s Sports Direct officially ruled out a takeover bid for co

** DEB trading down 5.9 pct at 12.61 cents by 0727 GMT

** DEB rose >9 pct on Wed. after an outgoing Sports Direct director said SPD had discussed combining DEB with House of Fraser, which it bought out of administration for 90 million pounds ($117.35 million) last month

** Sports Direct already owns 29.7 pct stake in Debenhams

** Debenhams slumped to a life low on Monday on reports of restructuring plans, store closures; co denied it was actively planning major store closures on Tuesday

** Stock has lost nearly two-third of its value YTD ($1 = 0.7669 pounds) (Reporting by Shashwat Awasthi in Bengaluru)

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