Adidas to buy US rival Reebok
Germany's Adidas-Salomon is to buy rival sporting goods firm Reebok in a deal worth 3.1 billion euros ($3.8 billion).
Adidas, the global number two in the sporting goods industry after Nike, is buying all outstanding shares of Reebok, the number three, for $59 per share in cash. The deal, expected to close in the first half of 2006, is pending the approval of Reebok shareholders and anti-trust authorities.
Adidas also said its net income in the second quarter rose by 33 per cent to 94 million euros, when adjusted for the sale of its ailing winter sports brand Salomon to Finland's Amer Sports. The figure was above analysts' average estimate of 86 million euros.
Sales rose by 8.2 per cent to 1.52 billion euros, which was also slightly above the average estimate of 1.49 billion euros, driven by growth in all regions except Europe.
For 2005, the Bavarian firm predicted that net income attributable to shareholders from continuing and discontinued operations would rise by 20 per cent.
News of the Reebok deal came one week after Adidas's smaller rival Puma unveiled plans to close the gap on Adidas and Nike by making acquisitions and entering new markets.
Funny Quotes
If the sky is the limit, then what is space, over the limit?Aren't the 'good things that come to those who wait' just the leftovers from the people that got there first?
Isn't it funny how the word 'politics' is made up of the words 'poli' meaning 'many' in Latin, and 'tics' as in 'bloodsucking creatures’?
Why do companies offer you "free gifts?" Since when has a gift NOT been free?
You know the expression, "Don't quit your day job?" Well what do you say to people that work nights?
If mars had earthquakes would they be called marsquakes?
If a missing person sees their picture on a milk carton that offers a reward, would they get the money?
Can bald men get lice??
Why is it when we laugh in school the teachers say do you find something funny? When obviously we do?
If you were born exactly on 12:00 midnight on December 31st – January 1st, which year would you say you were born in?
If you drink Pepsi at work in the Coke factory, will they fire you?
When you see the weather report and it says "partly cloudy" and then the next day it says "partly sunny"; what’s the difference?
If I think, and therefore I am, am I just a thought?
What's the opposite of opposite?
If Practice makes perfect, and nobody's perfect, then why practice?
How can something be new and improved? if it's new, what was it improving on?
I know you can be overwhelmed, and I know you can be underwhelmed, but can you just be whelmed?
If you ate pasta and anti-pasta, would you still be hungry?
