British sports retailer JJB Sports plc has agreed to back Nike’s bid to acquire UK sports brand Umbro, the official kit supplier of the England soccer team, for approximately $585 million. JJB, which holds a 10.1% stake in Umbro, has entered into an irrevocable undertaking with Nike Vapor Ltd to vote in favour of the scheme.

Commenting on the decision, Roger Lane-Smith, JJB's non-executive chairman, said: "We believe that accepting Nike's cash offer for Umbro is in the best interests of our shareholders and accordingly we are providing an irrevocable commitment to accept Nike's offer for Umbro."

The company’s other major shareholder Sports Direct, which held a 29.9% stake in Umbro, had already agreed to proceed with the deal last month.

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