Adidas Adi Group Denies Contact with any Hedge Fund Date: 2015-05-20 17:11
Adidas AG, the world’s second largest sporting goods manufacturer, officially confirmed that the group has not approached any private equity firms and investors regarding potential acquisitions or increased shareholdings. It also stated that it has hired a financial consulting company to defend against any possible Unfriendly acquisition.
As early as last September, the famous German financial media Manager Magazin reported that the three funds of The Childrens Investment Fund Management UK LLP, Knight Vinke Asset Management LLC and Third Point LLC are considering to buy shares of Adidas. After joining the shares, they will force Herbert Hainer, CEO of Adidas AG, to step down from 2001 and seek to spin off Reebok's Reebok brand and the TaylorMade golf business. However, adidas Group has not given a formal response to this issue.
Without any organization or individual to contact us for acquiring companies or holding large stocks, Herbert Hainer, CEO of adidas Group, told the media during a marketing campaign.
Although the market is always questionable, the board also wants Herbert Hainer to make way, but he has been holding this for 15 years in the adidas CEO position. In March of this year, the adidas board of supervisors will extend Hainer’s contract for another two years to 2017.
On May 5th, adidas announced its financial report for the first quarter of 2015. CEO Herbert Hainer described the quarter as a strong return. Calculated according to the constant exchange rate, as of March 31, adidas Group's operating income increased by 9% year-on-year to reach 4.083 billion euros.
In the adidas Q1 conference call held on May 11th, Herbert Hainer clearly announced that adidas Originals' profit growth rate in the first quarter of the fiscal year reached 29%, a significant increase from the 3% growth rate in the same period last year. Herbert Hainer also seems to prove himself again.
Adidas AG, the world’s second largest sporting goods manufacturer, officially confirmed that the group has not approached any private equity firms and investors regarding potential acquisitions or increased shareholdings. It also stated that it has hired a financial consulting company to defend against any possible Unfriendly acquisition.
As early as last September, the famous German financial media Manager Magazin reported that the three funds of The Childrens Investment Fund Management UK LLP, Knight Vinke Asset Management LLC and Third Point LLC are considering to buy shares of Adidas. After joining the shares, they will force Herbert Hainer, CEO of Adidas AG, to step down from 2001 and seek to spin off Reebok's Reebok brand and the TaylorMade golf business. However, adidas Group has not given a formal response to this issue.
Without any organization or individual to contact us for acquiring companies or holding large stocks, Herbert Hainer, CEO of adidas Group, told the media during a marketing campaign.
Although the market is always questionable, the board also wants Herbert Hainer to make way, but he has been holding this for 15 years in the adidas CEO position. In March of this year, the adidas board of supervisors will extend Hainer’s contract for another two years to 2017.
On May 5th, adidas announced its financial report for the first quarter of 2015. CEO Herbert Hainer described the quarter as a strong return. Calculated according to the constant exchange rate, as of March 31, adidas Group's operating income increased by 9% year-on-year to reach 4.083 billion euros.
In the adidas Q1 conference call held on May 11th, Herbert Hainer clearly announced that adidas Originals' profit growth rate in the first quarter of the fiscal year reached 29%, a significant increase from the 3% growth rate in the same period last year. Herbert Hainer also seems to prove himself again.
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