Nike Denounced 4 Billion 500 Million Purchase Of England National Jersey Manufacturers

Nike, the sports shoe maker, announced that it would buy England national Jersey manufacturer Umbro at a price of 285 million pence (HK $4 billion 500 million) for a 193.06 pence per share.

Umbro has provided soccer apparel for England, Ireland, Sweden, Norway national team, 6 Premier League teams and more than 100 professional teams all over the world. The company issued a profit warning last month that the next year's earnings will not be up to standard, mainly due to the fact that England team's sales of jerseys are not ideal.