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Nike Acquired Sports Direct'S Majority Stake In Umbro
Nike (NKE) announced on Friday that it has acquired Sports Direct International's 19.9% stake in Umbro.
The paction price is $3.83 per share, which is the same as Nike's full cash offer for Umbro.
Sports Direct currently owns 10% of Umbro, and the company said it will vote for Nike's takeover offer at the upcoming shareholders' meeting at Umbro.
In October, Nike announced an agreement to buy Umbro at a price of about $565 million.
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