Adidas Acquires Reebok

The athletic footwear market was shaken this month when German-based manufacturer adidas announced it would be acquiring all outstanding shares of Reebok International LTD. Under the terms of the deal, adidas will buy Reebok for 3.8-billion dollars at 59-dollars per share. For adidas, the merger strengthens its presence in global athletic footwear, apparel, and hardware markets