Thursday, December 7, 2006

Puma's stock rises on talk Nike wants to buy - report

Puma, the German sneaker maker, saw its stock rise on renewed speculation Nike may want to buy it, reported the Boston Herald. The report, citing traders, reported rumors of a takeout by Nike were spreading in Europe and Oregon where Nike is based.
According to the report, the rumors were prompted by Nike arranging a USD 1bn loan. The report noted a Nike spokesperson said the loan will be used for general corporate purposes.


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