Super Retail Group Shares Soar On Reports Of An Overseas Buyer

Russell Ingall of SuperCheap Auto Racing. Robert Cianflone/Getty Images

Shares in Super Retail Group jumped 11% to around $7.79 after reports of an overseas buyer in the market.

The Australian Financial Review says shareholders have been approached by a broker in the last week seeking at least 5% of the stock on behalf of a buyer they understood was based offshore.

Sports Direct, which owns 600 sporting goods stores in Europe, seems to be the most likely buyer.

Super Retail runs stores including Rebel Sports and Super Cheap Auto.

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