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CD

2005-08-03

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.

This item was posted by Chris Harrison.

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