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Business Briefing / APPAREL

Adidas golf unit to buy Ashworth

October 14, 2008|From Times Wire Services

Golf-inspired sportswear designer Ashworth Inc. said the golf division of Adidas Group would buy the company for about $28.1 million.

The division, called TaylorMade-Adidas Golf Co., will buy the company for $1.90 a share in cash through a tender offer.

The company valued the deal at $72.8 million, which includes the assumption of $46.3 million in debt.

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