Dick's prepares bid for bankrupt retailer Golfsmith's U.S. stores: sources

Dick's Sporting Goods Inc is preparing a bid for the U.S. business of bankrupt Golfsmith International Holdings Inc[GOFTWG.UL], challenging an offer by rival retailer Worldwide Golf Shops, people familiar with the matter said on Monday. While bids for Golfsmith, owned by OMERS Private Equity Inc, the buyout arm of one of Canada's largest pension funds, were due earlier on Monday, Dick's was given an extension until Tuesday morning to submit its offer, the people said. The bankruptcy auction will the test the value of Golfsmith, which suffered because of competition from discount retailers Wal Mart Stores Inc and Amazon.com Inc , as well as golf's waning popularity among younger customers.

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