FRANKFURT, Germany (AP) - Adidas-Salomon AG said Wednesday that it will buy shoemaker Reebok International Ltd. in a euro3.1 billion (US$3.8 billion) deal, giving the company about 20 percent of the U.S. market and putting it in a position to better challenge leader Nike Inc.
Under the terms of the all-stock deal, Adidas will pay US$59 (euro48.29) for all of Reebok's outstanding shares, a premium of 34.2 percent.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
