Reebok

Nike scores with Umbro takeover

Article Staff Reporter - 23 Oct 2007

United States sportswear giant Nike ventured further into the British football market on Tuesday after agreeing to buy rival Umbro, maker of the England soccer strip, for $582-million. The cash bid, worth 195 pence per Umbro share, values the British group at £285-million, a joint statement said.

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