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News Flash
Adidas announces clearance of Reebok acquisition
25 Jan '06
1 min read
Footwear Company adidas-Salomon AG announced that the European Commission has unconditionally cleared its proposed acquisition of Reebok International Ltd.
No other anti-trust approvals are required to complete the transaction.
“They are excited to have reached this important milestone,” said adidas-Salomon AG Chairman and CEO Herbert Hainer.
“They now expect that the transaction will close shortly, following approval of Reebok's shareholders.
To help ensure they hit the ground running on day one, their two companies have jointly developed an integration plan that leverages the talents and expertise of both companies, which they will implement as soon as the transaction closes.
They look forward to quickly realizing the many benefits afforded by their combination with Reebok.”
Reebok will hold a Special Meeting of Shareholders to approve the transaction on Wednesday, January 25, 2006.
The transaction could close as early as January 31, 2006.
Germany based adidas is the second largest sporting goods company in the world with its core brands adidas and TaylorMade–adidas Golf.
No other anti-trust approvals are required to complete the transaction.
“They are excited to have reached this important milestone,” said adidas-Salomon AG Chairman and CEO Herbert Hainer.
“They now expect that the transaction will close shortly, following approval of Reebok's shareholders.
To help ensure they hit the ground running on day one, their two companies have jointly developed an integration plan that leverages the talents and expertise of both companies, which they will implement as soon as the transaction closes.
They look forward to quickly realizing the many benefits afforded by their combination with Reebok.”
Reebok will hold a Special Meeting of Shareholders to approve the transaction on Wednesday, January 25, 2006.
The transaction could close as early as January 31, 2006.
Germany based adidas is the second largest sporting goods company in the world with its core brands adidas and TaylorMade–adidas Golf.
adidas-Salomon AG
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