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| Version 3 | Version 4 |
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| Nike agrees £285m Umbro takeover | Nike agrees £285m Umbro takeover |
| (about 2 hours later) | |
| Umbro, the maker of the England football team's kit, has agreed to be bought by US sportswear giant Nike in a deal worth £285m ($580m). | Umbro, the maker of the England football team's kit, has agreed to be bought by US sportswear giant Nike in a deal worth £285m ($580m). |
| Nike said the deal would allow it to "significantly expand" its presence in "a key growth category" for the firm. | |
| As well as providing kit for the England team, Umbro also supplies the kit for six Premier League clubs. | As well as providing kit for the England team, Umbro also supplies the kit for six Premier League clubs. |
| The Football Association said Nike had assured it that the FA's relationship with Umbro would be protected. | |
| Umbro said last month that sales of England tops had been "disappointing", and analysts are concerned that sales could suffer if England fail to qualify for next year's European Championship. | |
| Defensive moves | |
| Speculation had been rising that Nike was set to launch a bid after Umbro said last week that it had received an approach about a possible offer. | Speculation had been rising that Nike was set to launch a bid after Umbro said last week that it had received an approach about a possible offer. |
| ENGLISH PREMIER LEAGUE CLUBS WITH UMBRO KIT BirminghamBlackburnEvertonSunderlandWest HamWigan See Umbro's share price | |
| On Friday, retailer JJB Sports bought a 10.1% stake in Umbro in a move to protect its stake in the market for England football shirts. | On Friday, retailer JJB Sports bought a 10.1% stake in Umbro in a move to protect its stake in the market for England football shirts. |
| The owner of rival retailer Sports World, Sports Direct International, already owns a 15% stake in Umbro. | |
| In addition to the England team, Umbro also provides kit for the Republic of Ireland, Northern Ireland, Norway, and Sweden. | In addition to the England team, Umbro also provides kit for the Republic of Ireland, Northern Ireland, Norway, and Sweden. |
| In the Scottish Premier League, Umbro supplies kit to Rangers and Hearts. | In the Scottish Premier League, Umbro supplies kit to Rangers and Hearts. |
| 'Excellent deal' | |
| Under the terms of the offer, Umbro shareholders will receive 193.06p for each share. | Under the terms of the offer, Umbro shareholders will receive 193.06p for each share. |
| The chief executive of Umbro, Steve Makin, said the offer was an "excellent deal" for shareholders. | The chief executive of Umbro, Steve Makin, said the offer was an "excellent deal" for shareholders. |
| "We will be a stronger and better business as part of Nike and this deal will allow us to accelerate our existing growth strategy by leveraging Nike's global resources and expertise," he added. | "We will be a stronger and better business as part of Nike and this deal will allow us to accelerate our existing growth strategy by leveraging Nike's global resources and expertise," he added. |
| Brian Barwick, the chief executive of the FA, said: "We are delighted that the proposed acquisition will allow us to continue our strong historical relationship with Umbro while benefiting from the marketing expertise and financial strength of Nike." | |
| "Nike has provided firm assurances that the FA relationship with Umbro will be protected and enhanced, and we look forward to working closely with both companies moving forward," Mr Barwick added. |