Thread: Adidas to buy Reebok
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Old 03-08-2005, 09:11   #1
Neil
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Post Adidas to buy Reebok
Quote:
Originally Posted by Reuters
FRANKFURT, Aug 3 (Reuters) - German sports goods maker Adidas-Salomon (ADSG.DE: Quote, Profile, Research) is buying U.S. rival Reebok (RBK.N: Quote, Profile, Research) in a 3.1 billion euros ($3.8 billion) deal to expand its reach in Nike's (NKE.N: Quote, Profile, Research) home market.

Adidas, the number two in the sports goods industry behind Nike, said on Wednesday it is buying the outstanding shares of No. 3 player Reebok for $59 per share in cash, a 34 percent premium to Reebok's closing share price on Tuesday.
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