Click to Skip Ad
Closing in...

Umbro Holders OK Nike Purchase

Acquisition, for $565 million, is all cash and expected to be consummated in March.

Umbro plc’s shareholders have approved Nike Inc.’s purchase of the soccer brand.

At a shareholders meeting held Thursday in London, shareholders gave the thumbs up to a $565 million all-cash acquisition, for which Nike has been maneuvering since Oct. 23.


Pending court hearings and final regulatory approvals, Nike Vapor Ltd., a wholly owned Nike subsidiary, expects to complete the deal in early March.


Nike intends to operate Umbro as a stand-alone brand, which will help fuel its growth in soccer.

load comments


Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
blog comments powered by Disqus