Reebok gets three stripes
The Frankish sporting goods manufacturer Adidas wants for 3.1 billion euros to buy its U.S. rival Reebok, thus closing the gap with industry leader Nike. Today's announcement is a major strategic milestone, said Adidas CEO Herbert Hainer on Wednesday in Herzogenaurach. This is a unique opportunity to bring together two of the most respected and best known companies in the worldwide sporting goods industry. With Reebok Adidas is enhanced in its presence in the U.S., the world's largest market for sporting goods. With annual sales of nearly nine billion euros of the merged group Nike engaged (annual turnover eleven billion dollars) much closer. Thus also increased Europe's largest sportswear manufacturer in one fell swoop its position in the important U.S. market. At the same time Adidas presented a significant profit-and revenue growth for the second quarter. to be bernahmepreis of 59 dollars per share financed the takeover with their own funds and loans. Adidas will buy all outstanding shares of Reebok $ 59 per unit, this represents a premium of 34.2 percent to the closing price on Tuesday. The transaction must still approve the shareholders of Reebok and the competition authorities. It should be completed in the first half of 2006. In the first year after air jordan 11 retro the takeover Reebok will contribute to the result of Adidas, in the third year expect Adidas and Reebok savings of around 125 million euros. After Reebok takeover, the market share of Adidas in the U.S. athletic shoe business will double, new business such as American football or hockey are gained. At Reebok brands include Rockport, Jofa, Koho and Greg Norman. Experts responded to the plans yet restrained. We are skeptical because we see the step driven mainly by the regional supplement in the U.S. and little else expected synergies, said analyst Jörg Frey Oppenheim. HVB downgraded the stock to neutral from outperform. The paper was in the morning with 147,50 euro at roughly level the previous day, after it had initially yielded significantly. Strategic realignment fortgesetztDie market positioning and the takeover of Reebok is no accident: Adidas Board Erich Stamminger had declared in June, his company trying to increase U.S. market share. Adidas continues with the purchase continues its strategic realignment. The group plans to concentrate fully on undkleidung sports shoes, said CEO Hainer. In May, Adidas announced the sale of jordan 9 shoes for sale active mainly in Winterund French cycling Salomon to the Finnish Amer Sports. Only the golf business under the brand TaylorMade remains in the group. From the figures for the second quarter of Adidas has already factored out the winter sports business by Salomon. Without Salomon, net income rose by 33 percent to 94 million euros. Analysts had expected only 86 million euros on average. With 1.52 billion euros put Adidas eight percent higher than a year ago. The consolidated the prediction that sales are expected to rise in the mid to high single-digit percentage range confirmed. The result should grow by 20 percent to 375 million euros.
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