German Adidas buys American Reebok
{{date|August 3, 2005}}

{{w|Adidas}}, the second largest sports clothes manufacturer in the world, has announced it has struck a deal with the [[US|American]] company {{w|Reebok}} for [[EUR]] 3.1 billion. The deal has to be agreed by the Reebok shareholders.

Adidas is doing this to increase its share in the US market and to compete with [[Nike]], the largest sports brand in the world. Even after the merger, Nike will still be larger than the combined companies.

Reebok's shares have risen by 16% to [[United States dollar|$]]51. Adidas is offering $59 a share.

===Lifetime opportunity===

{{w|Herbert Hainer}}, Adidas CEO, said "This is a once in a lifetime opportunity to combine two of the most respected and well-known companies in the worldwide sporting goods industry". If the companies combine their sales will be a staggering EUR 9 billion a year.

Winning a bigger share of the [[North America]]n market is important for Adidas because it accounts for about 50% of the global sporting good market.

When, or if, the bid does go through Adidas will own many well known brands, most noticeably Adidas and Reebok but also {{w|TaylorMade}}, {{w|Rockport (company)|Rockport}}, {{w|Greg Norman#Greg Norman Company|Greg Norman Collection}}, {{w|Maxfli}}, {{w|CCM (ice hockey)|CCM}}, {{w|Jofa}} and {{w|Koho (company)|Koho}}.

===Adidas sales up===

Earlier this years Adidas profits rose 39%, to EUR 94 million.

== Sources ==
*{{source|url=http://news.bbc.co.uk/2/hi/business/4740755.stm
|title=Adidas agrees to buy rival Reebok 
|author=
|pub=BBC News
|date=August 3, 2005}}

*{{source|url=http://mbl.is/mm/vidskipti/frett.html?nid=1151875
|title=Íþróttavöruframleiðandinn Adidas kaupir skóframleiðandann Reebok
|author=
|pub=Morgunblaðið
|date=August 3, 2005}}

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[[Category:Economy and business]]
[[Category:Europe]]
[[Category:Germany]]
[[Category:North America]]
[[Category:United States]]
[[Category:Sports]]
[[Category:Nike, Inc.]]

[[de:Adidas kauft Reebok]]
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Economy and business Europe Germany North America United States Sports Nike, Inc.