Nike supplier risks own goal with US$1.4b buyout
Hong Kong
THE world's biggest shoemaker risks scoring an own goal.
Taipei-listed Pou Chen, which makes running shoes for Nike, Adidas and many other brands, has offered to buy full control of Pou Sheng in a deal valuing the Hong Kong-listed retailer at HK$10.9 billion (US$1.4 billion).
The growing threat from online shopping makes this a risky bet for the buyer. A generous price suggests outside investors should let the Taiwanese firm…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
France's Casino supermarket chain to axe up to 3,200 jobs
Prada outshines rivals with 16% revenue lift boosted by Miu Miu
Toymaker Hasbro posts quarterly profit beat, slower sales decline
Hilton lifts 2024 profit forecast on international travel demand
China knockoff raid jolts a global throng of fake-fashion influencers
Roche cuts pipeline after research setbacks and sales drop