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Jun. 25, 2015, 7:23 AM
- Skechers (NYSE:SKX) is an attractive target for Nike (NYSE:NKE) or Adidas (OTCQX:ADDYY, OTCPK:ADDDF), according to the The Business of Fashion.
- An acquisition would give either a company a stronger position in the growing fashionable walking shoe market.
- Skechers trades at stretched-out valuation after doubling in share price this year.
- SKX +101.9% YTD.
Jan. 23, 2015, 6:18 AM
- Adidas (OTCQX:ADDYY) has sold its Rockport shoe business for $280M to a new entity formed by Berkshire Partners and New Balance, as the German company narrows its focus on sporting goods.
- CEO Herbert Hainer is under pressure for a turnaround after scrapping sales and profit targets for 2015 last year because of slumping demand for golf supplies in North America and turmoil in Russia.
Oct. 20, 2014, 2:02 AM
- A group of investors from Hong Kong and Abu Dhabi is launching a €$1.7B ($2.2B) bid to buy Reebok from Adidas (OTCQX:ADDYY) following years of disappointing results and fading market share.
- Hong-Kong based private equity fund Jynwel Capital and funds affiliated with the government of Abu Dhabi plan to send a letter to Adidas proposing the deal.
- Adidas bought Reebok in 2006 for approximately €3B ($3.8B).
The adidas Group is a global leader in the sporting goods industry, offering a broad portfolio of footwear, apparel and hardware for sport and lifestyle around the core brands adidas, Reebok, TaylorMade and Reebok-CCM Hockey. Headquartered in Herzogenaurach, Germany, the Group employs more than... More
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