JAPAN: Asics scotches Adidas bid rumours
Shares in Adidas on the Frankfurt Stock Exchange increased 3% on Monday (3 December) after reports circulated that Nike and Asics would jointly bid US$15.28bn for the German sports company.
However, industry sources have questioned the likelihood of a deal, pointing out that Nike's market leadership would raise competition concerns.
Asics acknowledged the speculation, but said it had "not considered" tabling a bid for Adidas. Some traders have suggested the rumours were circulated to stimulate share trading.
The rumoured acquisition bid comes as Nike is in the process of acquiring UK-based sportswear company Umbro for about US$582m.
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