Rumor: Nike to Buy Under Armour
Speculation has quietly begun surrounding a potential pairing between Nike Inc. and Under Armour Inc. According to the London Times, Nike has been considering a takeover bid for several months now and a deal could be in the works. Posing significant financial advantage to Nike’s already impressive subsidiary umbrella, a deal could also mean substantial expansion to Under Armour’s relatively small international business. Closing out Thursday with a share value of $76.82 USD, the newspaper suggests that Nike may be prepared to offer upwards of $100 USD per share for the Baltimore, Maryland-based athletic brand. While substantive information is still forthcoming, many analysts and periodicals have already begun to debate the logic and repercussions of a Nike/Under Armour takeover scenario.