Word: hainer
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Dates: during 2000-2009
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...racing to catch up. Last week, Adidas agreed to pay $3.8 billion to acquire rival Reebok, delivering a head-on challenge to Nike. Canton, Massachusetts-based Reebok is popular with American basketball and baseball fans, while Adidas' strength has traditionally been in Europe. Adidas chief executive Herbert Hainer says the two brands will remain separate, and cost savings are expected to be modest. So why join up? After all, Adidas has a mixed record with acquisitions; earlier this year, it sold its Salomon winter-sport division for about half the amount it paid to acquire it eight years...