Typography

 

 

Adidas AG chief executive Herbert Hainer described recent rumours that rivals Asics and Nike Inc may be considering a joint takeover bid for the German sporting equipment manufacturer as 'utter nonsense'.

Adidas AG chief executive Herbert Hainer described recent rumours that rivals Asics and Nike Inc may be considering a joint takeover bid for the German sporting equipment manufacturer as 'utter nonsense'.

Shares in Adidas rose more than 3 percent on Monday on vague rumours that Asics and Nike might be mulling a 15.28 bln eur bid for Adidas.

"There is the rumor that Asics and Nike are bidding for Adidas," one trader said, adding that the two companies would apparently together bid $15.28 billion for the German sporting goods maker. Adidas has a market capitalization of $13.5 billion. But another trader said he did not expect Nike to bid for Adidas and that Asics did not have the financial firepower on its own. A trader had described the speculation as a 'rehashed older rumour' at the time.

Hainer also told journalists late yesterday in Munich that the integration of the Reebok acquisition is now well under way after it was initially 'more difficult that we had imagined'.The projected cost synergies are progressing according to plan and the focus is now on 'revitalising the brand', he said and added that Reebok sales should rise next year.

Adidas shares rose as much as 3.4 percent to 47.00 euros and were up 1.7 percent at 46.24 euros by 1137 GMT, while Germany's DAX index .GDAXI was up 0.1 percent.

Adidas is the number two in the industry after Nike and a merger could prove to be problematic, industry sources said, as such a tie-up would most likely not get a green light from the relevant authorities. In October, Nike agreed to buy England kit maker Umbro in a deal that valued the British sportswear firm at 285 million pounds ($587.7 million).

 

 

Comments (1)

  1. Tyrone

I honestly believe that Adrian Peterson, Arian Foster, Ray Rice, Marshawn Lynch, or Jamaal <br />Charles should be your focus in the first round. Alabama will try to rebound from their loss to the Sooners and rank fourth in the Sporting News college football: http://www.teamtalk.com preseason rankings.<br />There are some excellent websites that offer live football matches, as well <br />as live match scores, for one low price.

 
There are no comments posted here yet

Leave your comments

Posting comment as a guest. Sign up or login to your account.
Attachments (0 / 3)
Share Your Location
Type the text presented in the image below

LATEST 17/18 KITS

Asan Mugunghwa 2018 Mizuno Home and Away Kits

Asan Mugunghwa 2018 Mizuno Home and Away Kits

These are the new Asan Mugunghwa FC 2018 home and away kits by Mizuno. The new kits will be used during the 2018 K League 2, which will be the sixth…
Toronto FC 2018 Adidas Away Kit

Toronto FC 2018 Adidas Away Kit

The new Toronto FC away kit by Adidas is out, complete with a star above the crest honouring last year's MLS Cup triumph. The Reds are going with a…
Limerick 2018 Umbro Home Kit

Limerick 2018 Umbro Home Kit

This is the new Limerick FC home football shirt by Umbro. Limerick will be wearing the new home kit during the 2018 League of Ireland Premier…
Waterford 2018 Umbro Home Kit

Waterford 2018 Umbro Home Kit

Waterford revealed the new home shirt by Umbro for the 2018 season. Waterford FC will be wearing the new home kit in the 2018 League of Ireland…
Atlanta United 2018 Adidas Away Kit

Atlanta United 2018 Adidas Away Kit

Atlanta United have unveiled their new away kit for the 2018 season by Adidas, and its crest and other logos offer a peachy new splash of colour.…
River Plate 2018 Adidas Third Kit

River Plate 2018 Adidas Third Kit

River Plate and adidas Argentina revealed the club's new third shirt. This shirt is inspired by all the colours of the Estadio Monumental, packed…
Guangzhou R&F 2018/19 Nike Home Kit

Guangzhou R&F 2018/19 Nike Home Kit

This is the new Guangzhou R&F F.C. 2018/19 home football shirt by Nike. The new home kit will be used during the 2018 Ping An Chinese Football…
Jiangsu Suning 2018/19 Nike Home Kit

Jiangsu Suning 2018/19 Nike Home Kit

This is the new Jiangsu Suning F.C. 2018/19 home football shirt by Nike. The new home kit will be used during the 2018 Ping An Chinese Football…
Hebei China Fortune 2018/19 Nike Home Kit

Hebei China Fortune 2018/19 Nike Home Kit

This is the new Hebei China Fortune F.C. 2018/19 home football shirt by Nike. The new home kit will be used during the 2018 Ping An Chinese Football…
Shandong Luneng 2018/19 Nike Home Kit

Shandong Luneng 2018/19 Nike Home Kit

This is the new Shandong Luneng Taishan F.C. 2018/19 home football shirt by Nike. The new home kit will be used during the 2018 Ping An Chinese…
Henan Jianye 2018/19 Nike Home Kit

Henan Jianye 2018/19 Nike Home Kit

This is the new Henan Jianye F.C. 2018/19 home football shirt by Nike. The new home kit will be used during the 2018 Ping An Chinese Football…
Beijing Guoan 2018/19 Nike Home Kit

Beijing Guoan 2018/19 Nike Home Kit

This is the new Beijing Sinobo Guoan F.C. 2018/19 home football shirt by Nike. The new home kit will be used during the 2018 Ping An Chinese Football…
Guangzhou Evergrande 2018/19 Nike Home Kit

Guangzhou Evergrande 2018/19 Nike Home Kit

This is the new Guangzhou Evergrande Taobao F.C. 2018/19 home football shirt by Nike. The new home kit will be used during the 2018 Ping An Chinese…
Shanghai SIPG 2018/19 Nike Home Kit

Shanghai SIPG 2018/19 Nike Home Kit

This is the new Shanghai SIPG F.C. 2018/19 home football shirt by Nike. The new home kit will be used during the 2018 Ping An Chinese Football…
Shanghai Shenhua 2018/19 Nike Home Kit

Shanghai Shenhua 2018/19 Nike Home Kit

This is the new Shanghai Greenland Shenhua F.C. 2018/19 Home football shirt by Nike. The new home kit will be used during the 2018 Ping An Chinese…
Seongnam 2018 Umbro Away Kit

Seongnam 2018 Umbro Away Kit

This is the new Seongnam FC 2018 away kit by Umbro. The new away kit will be used during the 2018 K League 2, which will be the sixth season of the K…
Seongnam 2018 Umbro Home Kit

Seongnam 2018 Umbro Home Kit

This is the new Seongnam FC 2018 home kit by Umbro. The new home kit will be used during the 2018 K League 2, which will be the sixth season of the K…
Seoul E-Land 2018 New Balance Away Kit

Seoul E-Land 2018 New Balance Away Kit

This is the new Seoul E-Land FC 2018 away kit by New Balance. The new away kit will be used during the 2018 K League 2, which will be the sixth…
Seoul E-Land 2018 New Balance Home Kit

Seoul E-Land 2018 New Balance Home Kit

This is the new Seoul E-Land FC 2018 home kit by New Balance. The new home kit will be used during the 2018 K League 2, which will be the sixth…
Minnesota United 2018 Adidas Home Kit

Minnesota United 2018 Adidas Home Kit

Minnesota United's 2018 kit is here. With grey stripes, a red button, and MNUFC detailing, this jersey features bold team graphics and adizero fabric…