Nike Inc. is in talks with Umbro plc shareholder Mike Ashley to try and persuade him to not block its £285 million ($582 million) takeover offer for the soccer apparel maker, the Financial Times reported.
Ashley, the founder of British sportswear retailer Sports Direct International plc, which owns a 29.9% stake in Umbro, threatened to vote against the deal shortly after its announcement in October. Nike needs approval from at least 75% of Umbro shareholders to complete its offer.
The FT said the talks are the first positive sign that Ashley is willing to negotiate with Nike after almost two months of a stalemate between the companies. — Matthew Wurtzel
Nike Inc. is in talks with Umbro plc shareholder Mike Ashley to try and persuade him to not block its £285 million ($582 million) takeover offer for the soccer apparel maker, 
