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Feb 02, 06

Adidas completes acquisition of Reebok

“We are delighted with the closing of the Reebok transaction, which marks a new chapter in the history of our group,” says Adidas-Salomon AG chairman and CEO, Herbert Hainer.

“By combining two of the most respected and well-known brands in the worldwide sporting goods industry, the new group will benefit from a more competitive worldwide platform, well-defined and complementary brand identities, a wider range of products and a stronger presence across teams, athletes, events and leagues.”

Paul Fireman is stepping down as CEO of Reebok International Ltd, but will remain as an adviser to Hainer.

Under the terms of the agreement, Reebok shareholders will received US$59 a share, representing a transaction value of approximately ?3.1 billion.

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