Shares in German sports goods maker Adidas rose as much as 3 percent on Monday, with traders citing market talk of takeover interest from U.S. rival Nike. Rumours say the company might be mulling a takeover bid for German rival Adidas, but a spokesman for Nike declined to comment. He said the company does not comment on market rumours.
'The rumour is a rehashed older rumour and I really don't think there is much to it,' a Frankfurt-based trader said earlier today, after shares of Adidas rose in reaction to the speculation.
Back in December 2007 Adidas AG chief executive Herbert Hainer described the first rumours that rivals Asics and Nike Inc may be considering a joint takeover bid for the German sporting equipment manufacturer as 'utter nonsense'.
A merger could prove to be problematic, industry sources say, as such a tie-up would most likely not get a green light from cartel authorities.