Home / Knowledge / News / Fashion / Adidas all set to acquire Reebok

Adidas all set to acquire Reebok

21
Jan '06
German sporting goods firm Adidas-Salomon, number two in the sports goods market, is all set to buy Reebok, in a deal worth $3.8 billion.

This deal would make its position stronger in the United States by closing the gap with top rival Nike.

European competition authorities are likely to approve the deal by Tuesday next week, a source familiar with the situation said on Thursday.

The acquisition deal has been cleared by the US antitrust authorities which would create a company with combined sales of around $11 billion.

German firm will benefit as Reebok the world's third-largest maker of sporting goods, has a stronger position than Adidas in the United States.

After the deal gets approval by European Commission, Reebok shareholders will meet on Wednesday for the acquisition.

Adidas has said it would buy all outstanding Reebok shares for $59 each after Reebok's board agrees to the deal.


Must ReadView All

Pic:  TonelsonProductions / Shutterstock.com

Apparel/Garments | On 16th Apr 2021

CPTPP boosts Vietnam's exports, pandemic a mild dampener

Vietnam's exports to its partners in the Comprehensive and...

Pic: Smartwool

Apparel/Garments | On 16th Apr 2021

US merino wool apparel maker Smartwool to go 100% circular by 2030

Smartwool, a Denver, US-based maker of merino wool apparel for active ...

Pic: Steve Madden

Apparel/Garments | On 16th Apr 2021

US company Steve Madden acquires remaining share of European JV

Steve Madden Ltd, a leading designer and marketer of fashion-forward...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Estimate loss of $8-$10 billion in turnover

Textile Industry, Head honchos

Textile Industry
Head honchos

Indian apparel industry looks poised for slow death

Textile Industry, Head honchos

Textile Industry
Head honchos

Wearables have very limited reach

Himanshu Fogla,

Himanshu Fogla

Jumac, pioneers in spinning can manufacturing in India, was founded in...

David Guiho,

David Guiho

Headquartered in Apt, South of France, Delta Plus designs, manufactures...

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search