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Nike takes over Umbro for GBP 285 million
Worldwide - 24 October, 2007
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Nike has completed a takeover of Umbro for a total of GBP 285 million.
The U.S. sportswear maker gains control of a company that makes the kits for the English, Irish, Norwegian and Swedish national football teams, as well as six English Premier League clubs and Scottish Rangers and Hearts.
Umbro shareholders are set to receive 193.06p a share. Umbro chief executive Steve Makin called the offer a great deal for shareholders.
"We will be a stronger and better business as part of Nike and this deal will allow us to accelerate our existing growth strategy by leveraging Nike's global resources and expertise," Makin said.
The U.S. sportswear maker gains control of a company that makes the kits for the English, Irish, Norwegian and Swedish national football teams, as well as six English Premier League clubs and Scottish Rangers and Hearts.
Umbro shareholders are set to receive 193.06p a share. Umbro chief executive Steve Makin called the offer a great deal for shareholders.
"We will be a stronger and better business as part of Nike and this deal will allow us to accelerate our existing growth strategy by leveraging Nike's global resources and expertise," Makin said.
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