Reports are circulating that Nike are considering a takeover bid for Under Armour, something they have been supposedly been thinking about for several months, stock in Under Armour rose 7% in post-market trading.
According to The Times, Nike could offer more than $100 per share for Under Armour. It would be likely that Nike would treat Under Armour as a subsidiary, much as they do with Umbro.
Neither company has commented on the reports, but Bloomberg has said that a Nike spokesperson told them there was no truth to it. The Portland Business Journal, say Nike isn’t new to expanding its reach through acquisitions. “It bought Converse in 2003 for $305 million and Umbro in 2008 for $565 million“.
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