Nike declines to comment on rumored interest in Adidas
March 10, 2008: 12:53 PM EST
FRANKFURT, Mar. 10, 2008 (Thomson Financial delivered by Newstex) -- A spokesman for Nike (NYSE:NKE) Inc declined to comment on market rumours the company might be mulling a takeover bid for German rival Adidas AG. (OOTC:ADDYY)
He said the company does not comment on market rumours.
'The rumour is a rehashed older rumour and I really don't think there is much to it,' a Frankfurt-based trader said earlier today, after shares of Adidas rose in reaction to the speculation.