Reports that Foot Locker Inc. is reviewing a possible acquisition or investment in JJB Sports sent shares of British retailer up, according to reports in British media.
Trading volume in the stock surged, pushing its price up by 1.25p, or 8%, to 17p, according to a report in the Daily Mail's online news site.
JJB narrowly avoided entering the British version of bankruptcy last year by selling off its fitness clubs and restructuring many of its store leases. Foot Locker is said to be on the prowl for ways to expand in Europe and the United Kingdom.
