Debenhams shares spike after Ashley launches takeoverpublished at 13:12 Greenwich Mean Time 8 March 2019
Press Association
Debenhams shares spiked on Friday after Mike Ashley launched an aggressive campaign to seize control of the retailer.
The company's stock jumped as much as 40% to 4.3p in early trading after the Sports Direct boss called for a clean sweep at the top of Debenhams and proposed installing himself as an executive.
Mr Ashley owns 30% of Debenhams through the sports retailer.
If Mr Ashley's plans are successful, he would step down from his position as chief executive of Sports Direct, though would retain his controlling 60% stake in the Shirebrook-based company.