adidas Group Comments on Approval of Transaction by Reebok Shareholders
Herzogenaurach, January 25, 2006 – adidas-Salomon AG issued the following statement regarding the announcement by Reebok International Ltd. that its shareholders today voted to approve the companies’ merger agreement.
“We are pleased that Reebok’s shareholders have fully endorsed our transaction,” said adidas-Salomon AG Chairman and CEO, Herbert Hainer. “This is an enormous opportunity to combine two of the most respected and well-known brands in the worldwide sporting goods industry. An integration plan that leverages the talents and expertise of both companies is underway. We look forward to the exciting benefits of this transaction.”
Under the terms of the agreement announced on August 3, 2005, Reebok shareholders will receive U.S. $59.00 per share in cash upon the close of the transaction. adidas-Salomon AG and Reebok have received the approvals required to complete the transaction, which could close as early as January 31, 2006.