adidas-Salomon AG and Reebok International Ltd. announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, with respect to the proposed acquisition of Reebok by adidas-Salomon AG, has expired. As a result, no further anti-trust regulatory review will be necessary in the United States.
On August 3, 2005 adidas-Salomon and Reebok announced that their Boards of Directors had unanimously approved a definitive agreement under which adidas-Salomon would acquire all of the outstanding shares of Reebok for U.S. $59.00 per share in cash. The transaction value is approximately 3.1 billion (U.S. $3.8 billion) including the assumption of Reeboks net cash position.
As previously announced, the transaction is subject to customary closing conditions and regulatory approvals as well as authorization by Reebok shareholders. The companies believe that the transaction will close in the first half of 2006.
