Adidas (OTCQX:ADDYY) has a list of potential bidders for its Reebok brand as it moves forward in the sales process.
Sources indicate that Wolverine World Wide (NYSE:WWW) in partnership with Authentic Brands has been asked to make a bid by the end of August. Other bidders in the mix include private equity firms Advent, CVC, Cerberus and Sycamore.
Adidas bought Reebok for $3.8B in 2006, but is only expected to unload the athletic apparel brand for about $1.2B. The final timing of a sale is undetermined.
Shares of Adidas are up 0.72% in premarket trading to $316.00.