2024-05-09 12:40:00 ET
Summary
- Hibbett received and accepted a bid from JD Sports.
- This deal - and the price - brings into question our thesis for Hibbett.
- We are very unsure about our understanding of sneaker retailing and we did not expect the JD Sports acquisition of Hibbett.
The following segment was excerpted from this fund letter.
Hibbett, Inc. ( HIBB )
Hibbett is an unusual long for us. It is consumer facing and we rarely own consumer stocks. Secondly, we wrote it up - extensively - recently. As disclosed on Form 13G, we own a bit over five percent of the company and it is the only time Bronte has ever filed such a substantial shareholder notice....
Read the full article on Seeking Alpha
For further details see:
Bronte Capital - Hibbett: The JD Sports Bid Conundrum