sportswear maker adidas to buy reebok

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    Sportswear Maker Adidas to Buy Reebok
    Wednesday August 3, 2:31 am ET
    Sportswear Maker Adidas to Buy Reebok in $3.8 Billion Deal

    FRANKFURT, Germany (AP) -- Adidas-Salomon AG said Wednesday that it will buy shoemaker Reebok International Ltd. in a $3.8 billion deal, giving the company about 20 percent of the U.S. market and putting it in a position to better challenge leader Nike Inc.
    Under the terms of the all-stock deal, Adidas will pay $59 for all of Reebok's outstanding shares, a premium of 34.2 percent.

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