Umbro gives Nike takeover the nod
Shareholders at UK-based sporting goods firm Umbro have decided to back a £285 million pound takeover bid by Nike Inc., which is expected to take place in early March. The acquisition, to be carried out by Nike subsidiary Nike Vapor Ltd, will increase the Oregon-based sportswear giant greater influence in the European and soccer markets.
Nike is to pay 193.06p per share and will treat the brand as a wholly-owned subsidiary, similar to its athletic shoe brand Converse.
Umbro’s sportswear, footwear and equipment is sold in more than 90 countries worldwide. Over the years it has supplied kits for many football teams including the England national squad, Over the years Umbro have also produced kits for major teams including Arsenal, Celtic FC, Manchester United, Chelsea, Liverpool, Inter Milan and CSKA Moscow.
