Nike may be shooting for Umbro

Umbro Plc, familiar to soccer fans worldwide for its sportswear, said it received a takeover approach, further stoking media speculation that British retailer Sports Direct International Plc may be the bidder. Despite earlier media chatter about Sports Direct, the latest news indicates that Nike Inc. is the unidentified bidder. Shares of the British apparel company surged as much as 30% bringing its market capitalization to £216 million ($442 million). The company's statement, which came a day after The Telegraph reported on Sports Direct's accumulation of a 15% stake in Umbro, didn't name the potential buyer. However, another obvious buyer would be Adidas. Umbro is best known as the maker of soccer uniforms for England's national team. — Matthew Wurtzel

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