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Adidas to acquire outstanding shares of Reebok

03
Aug '05
Herzogenaurach based footwear, apparel and accessories maker of adidas-Salomon AG and footwear maker Reebok International Ltd's BOD has decided that adidas will acquire all of the outstanding shares of Reebok for US$ 59.00 per share in cash.

The offer price represents a premium of 34.2 percent over the closing price of Reebok's stock on August 2, 2005. The transaction value is approximately € 3.1 billion (US$ 3.8 billion) including the assumption of net cash of € 69 million (US$ 84 million).

The transaction is subject to the approval of Reebok's shareholders as well as to the regulatory approvals and customary closing conditions. Both companies believe that the transaction will close in the first half of 2006.

adidas has been part of the world of sports on every level, delivering state-of-the-art sports footwear, apparel and accessories. Today, with total net sales of 6.478 billion euros and net income of 314 million euros, adidas-Salomon is a global leader in the sporting goods industry and offers the broadest portfolio of products.

adidas-Salomon products are available in virtually every country of the world. Company strategy is simple: continuously strengthen their brands and products to improve their competitive position and financial performance.

adidas-salomon AG


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