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This is the personal site/blog/experiment of Chris Harrison, a web designer living, working and playing in Augusta, GA.

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08.03.2005

Adidas to Buy Reebok

Her­zo­ge­nau­rach / Can­ton, MA — The Boards of adidas-Salomon AG and Reebok Inter­na­tional Ltd. 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.

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