U.S. rival Wolverine Worldwide, which has partnered with brand transformation specialist Authentic Brands Group, has been asked to submit a final bid in August 2021, as have buyout firms Advent, CVC, Cerberus and Sycamore, the sources told Reuters.

Adidas bought Reebok for US$3.8 billion in 2006 to help to compete with Nike, but its sluggish performance led to repeated calls from investors to cut ties with the brand, which is now expected to fetch up to €1 billion (US$1.2 billion).

Source: Reuters