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 19.03 TaylorMade:
Kjøper
Adams
TaylorMade og Adams er to velkjente merker med god kvalitet. Nå har TaylorMade
kjøpt opp Adams.
Her er utdrag fra pressemeldingen:
TaylorMade-adidas Golf Company to acquire Adams Golf
PLANO, TEXAS, March 19, 2012 – The adidas Group and Adams Golf, Inc. (NASDAQ:
ADGF) today announced that the TaylorMade-adidas Golf business segment has
entered into a definitive agreement to acquire all of the outstanding shares of
Adams Golf for $10.80 per share in cash. The transaction value is approximately
$70 million (approximately € 53 million), which represents a premium of
approximately 71% to the share price prior to Adams Golf’s announcement that it
was examining strategic alternatives on January 4, 2012.
Through the acquisition of Adams Golf, TaylorMade-adidas Golf reinforces its
position as the world’s number one player in golf. The addition of Adams Golf
enables TaylorMade-adidas Golf to broaden its product range and to extend its
presence across a wider array of golfers.
“This acquisition reflects our commitment to continued growth in the golf
category,” said adidas Group CEO Herbert Hainer. “The proposed combination of
Adams Golf and TaylorMade-adidas Golf brings together two highly complementary
sets of brands, combining Adams' focus on game-improvement as well as senior and
women golfers with TaylorMade-adidas Golf’s focus on the younger and the
low-to-mid handicap golfer.”
“We are very excited to team up with Adams Golf, whose management team we have
respected for many years,” commented Mark King, President and CEO of
TaylorMade-adidas Golf. “Our mission is to be the best golf company in the world
across all geographies, products and customer demographics, and adding Adams
Golf is another important step in achieving that goal.”
"This merger provides strong opportunities for our employees, suppliers and
partners,” said Barney Adams, Interim CEO of Adams Golf. “The Adams Golf brand
will fit nicely into TaylorMade-adidas Golf’s stable of brands, and together we
will be able to increase our reach and better serve our customers by leveraging
a wider set of resources. We are also excited that TaylorMade-adidas Golf has
decided to maintain Adams Golf’s headquarters in Plano, Texas.”
The Board of Directors of Adams Golf has unanimously approved the transaction.
Certain insiders, who include John M. Gregory, Joseph R. Gregory, SJ Strategic
Investments LLC, B.H. (Barney) Adams, Russell L. Fleischer, Mark R. Mulvoy and
Robert D. Rogers, collectively own approximately 35% of Adams Golf’s outstanding
shares and have agreed to vote their shares in favor of the transaction. The
adidas Group plans to finance the acquisition with cash on hand or through
existing credit lines. The transaction is subject to customary closing
conditions and regulatory approvals as well as approval by Adams Golf
shareholders. The transaction is expected to close mid-2012.
In connection with the transaction, Barclays is acting as financial advisor to
the adidas Group, and Sheppard Mullin Richter & Hampton LLP is serving as legal
counsel. Morgan Stanley is acting as financial advisor to Adams Golf and Haynes
& Boone, LLP is serving as legal counsel.
About Adams Golf
Adams Golf designs, assembles, markets and distributes premium quality,
technologically innovative golf clubs for all skill levels. Recently launched
products include the Speedline Fast 12 drivers, Fast 12 LS drivers and the
Speedline Fast 12 fairway woods, along with the Idea a12 OS irons and hybrids,
Idea a12 hybrids, Idea Pro a12 irons and hybrids, Idea Tech V3 irons and
hybrids, Redline irons, Idea a7 and a7 OS irons and hybrids, and Speedline 9088
UL drivers. Adams Golf also develops new products under the Yes! Putters,
Women's Golf Unlimited, Lady Fairway and Square 2 brands. In 2011, net sales
were approximately $97 million (€ 73 million).
About the adidas Group
The adidas Group is one of the global leaders within the sporting goods industry,
offering a broad range of products around the core brands: adidas, Reebok,
TaylorMade, Rockport and Reebok-CCM Hockey. Headquartered in Herzogenaurach,
Germany, the Group has more than 46,000 employees and generated sales of over €
13 billion in 2011.
About TaylorMade-adidas Golf
Headquartered in Carlsbad, California, TaylorMade-adidas Golf Company sells golf
clubs, balls clothing and accessories under the TaylorMade, adidas Golf and
Ashworth brands. TaylorMade-adidas Golf Company posted 2011 sales of over € 1.0
billion.
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