German footwear company Adidas-Salomon says it is acquiring rival Reebok for $3.8 billion. The deal more than doubles Adidas's sales in North America. Analysts say the merged company ought to be in a better position to challenge Nike, the leading sportswear company.
The deal also brings together a global lineup of celebrity endorsers, including basketball star Allen Iverson and rapper Jay-Z of Reebok, and soccer's David Beckham, an Adidas man.
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