Nike must be getting slightly worried with the news that German sports goods firm Adidas is in talks to buy its U.S competition Reebok. The deal still has to be approved by Reebok, but once details have been agreed, 2006 will see its completion. News of the takeover resulted in Reeboks shares rising by 16%.
Adidas Boss Herbert Hainer commented on the deal saying,
“This is a once in a lifetime opportunity to combine two of the most respected and well-known companies in the worldwide sporting goods industry”, said Mr Hainer.