Dick's prepares bid for bankrupt retailer Golfsmith's U.S. stores: sources
<p><span word="Dick">Dick</span>'<span word="s">s</span> <span word="Sporting">Sporting</span> <span word="Goods">Goods</span> <span word="Inc">Inc</span> (<span word="DKS">DKS</span>.<span word="N">N</span>) <span word="is">is</span> <span word="preparing">preparing</span> <span word="a">a</span> <span word="bid">bid</span> <span word="for">for</span> <span word="the">the</span> <span word="U">U</span>.<span word="S">S</span>. <span word="business">business</span> <span word="of">of</span> <span word="bankrupt">bankrupt</span> <span word="Golfsmith">Golfsmith</span> <span word="Holdings">Holdings</span> <span word="Inc">Inc</span>[<span word="GOFTWG">GOFTWG</span>.<span word="UL">UL</span>], <span word="challenging">challenging</span> <span word="an">an</span> <span word="offer">offer</span> <span word="by">by</span> <span word="rival">rival</span> <span word="retailer">retailer</span> <span word="Worldwide">Worldwide</span> <span word="Golf">Golf</span> <span word="Shops">Shops</span>, <span word="people">people</span> <span word="familiar">familiar</span> <span word="with">with</span> <span word="the">the</span> <span word="matter">matter</span> <span word="said">said</span> <span word="on">on</span> <span word="Monday">Monday</span>.</p><p><span word="While">While</span> <span word="bids">bids</span> <span word="for">for</span> <span word="Golfsmith">Golfsmith</span>, <span word="owned">owned</span> <span word="by">by</span> <span word="OMERS">OMERS</span> <span word="Private">Private</span> <span word="Equity">Equity</span> <span word="Inc">Inc</span>, <span word="the">the</span> <span word="buyout">buyout</span> <span word="arm">arm</span> <span word="of">of</span> <span word="one">one</span> <span word="of">of</span> <span word="Canada">Canada</span>'<span word="s">s</span> <span word="largest">largest</span> <span word="pension">pension</span> <span word="funds">funds</span>, <span word="were">were</span> <span word="due">due</span> <span word="earlier">earlier</span> <span word="on">on</span> <span word="Monday">Monday</span>, <span word="Dick">Dick</span>'<span word="s">s</span> <span word="was">was</span> <span word="given">given</span> <span word="an">an</span> <span word="extension">extension</span> <span word="until">until</span> <span word="Tuesday">Tuesday</span> <span word="morning">morning</span> <span word="to">to</span> <span word="submit">submit</span> <span word="its">its</span> <span word="offer">offer</span>, <span word="the">the</span> <span word="people">people</span> <span word="said">said</span>.</p><p><span word="The">The</span> <span word="bankruptcy">bankruptcy</span> <span word="auction">auction</span> <span word="will">will</span> <span word="the">the</span> <span word="test">test</span> <span word="the">the</span> <span word="value">value</span> <span word="of">of</span> <span word="Golfsmith">Golfsmith</span>, <span word="which">which</span> <span word="suffered">suffered</span> <span word="because">because</span> <span word="of">of</span> <span word="competition">competition</span> <span word="from">from</span> <span word="discount">discount</span> <span word="retailers">retailers</span> <span word="Wal">Wal</span> <span word="Mart">Mart</span> <span word="Stores">Stores</span> <span word="Inc">Inc</span> (<span word="WMT">WMT</span>.<span word="N">N</span>) <span word="and">and</span> <span word="Amazon">Amazon</span>.<span word="com">com</span> <span word="Inc">Inc</span> (<span word="AMZN">AMZN</span>.<span word="O">O</span>), <span word="as">as</span> <span word="well">well</span> <span word="as">as</span> <span word="golf">golf</span>'<span word="s">s</span> <span word="waning">waning</span> <span word="popularity">popularity</span> <span word="among">among</span> <span word="younger">younger</span> <span word="customers">customers</span>. <span word="Interest">Interest</span> <span word="in">in</span> <span word="gold">gold</span> <span word="has">has</span> <span word="dropped">dropped</span> <span word="in">in</span> <span word="line">line</span> <span word="with">with</span> <span word="the">the</span> <span word="fading">fading</span> <span word="career">career</span> <span word="of">of</span> <span word="star">star</span> <span word="golfer">golfer</span> <span word="Tiger">Tiger</span> <span word="Woods">Woods</span>, <span word="who">who</span> <span word="once">once</span> <span word="attracted">attracted</span> <span word="many">many</span> <span word="young">young</span> <span word="fans">fans</span> <span word="to">to</span> <span word="the">the</span> <span word="sport">sport</span>.</p><p><span word="Privately">Privately</span>-<span word="held">held</span> <span word="Worldwide">Worldwide</span> <span word="Golf">Golf</span> <span word="Shops">Shops</span> <span word="was">was</span> <span word="preparing">preparing</span> <span word="to">to</span> <span word="submit">submit</span> <span word="a">a</span> <span word="bid">bid</span> <span word="for">for</span> <span word="Golfsmith">Golfsmith</span> <span word="on">on</span> <span word="Monday">Monday</span>, <span word="in">in</span> <span word="partnership">partnership</span> <span word="with">with</span> <span word="liquidators">liquidators</span> <span word="from">from</span> <span word="Great">Great</span> <span word="American">American</span> <span word="Group">Group</span> <span word="LLC">LLC</span>, <span word="one">one</span> <span word="of">of</span> <span word="the">the</span> <span word="people">people</span> <span word="said">said</span>.</p><p><span word="The">The</span> <span word="sources">sources</span> <span word="asked">asked</span> <span word="not">not</span> <span word="to">to</span> <span word="be">be</span> <span word="identified">identified</span> <span word="because">because</span> <span word="the">the</span> <span word="bids">bids</span> <span word="were">were</span> <span word="not">not</span> <span word="public">public</span>. <span word="Golfsmith">Golfsmith</span> <span word="filed">filed</span> <span word="for">for</span> <span word="bankruptcy">bankruptcy</span> <span word="in">in</span> <span word="the">the</span> <span word="United">United</span> <span word="States">States</span> <span word="and">and</span> <span word="Canada">Canada</span> <span word="last">last</span> <span word="month">month</span>.</p><p><span word="Spokespeople">Spokespeople</span> <span word="for">for</span> <span word="Dick">Dick</span>'<span word="s">s</span>, <span word="Golfsmith">Golfsmith</span>, <span word="Worldwide">Worldwide</span> <span word="Golf">Golf</span> <span word="and">and</span> <span word="Great">Great</span> <span word="American">American</span>'<span word="s">s</span> <span word="parent">parent</span> <span word="company">company</span>, <span word="investment">investment</span> <span word="bank">bank</span> <span word="B">B</span>. <span word="Riley">Riley</span> <span word="Financial">Financial</span> <span word="Inc">Inc</span> (<span word="RILY">RILY</span>.<span word="O">O</span>), <span word="did">did</span> <span word="not">not</span> <span word="immediately">immediately</span> <span word="return">return</span> <span word="requests">requests</span> <span word="for">for</span> <span word="comment">comment</span>.</p>
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