Nike's pounds 285m takeover of England kit manufacturer Umbro
has been given the thumbs-up by Sports World billionaire Mike Ashley.
backed Nike's approach in October because it gave it "significant financial and brand firepower".
October 23, Nike, the world's biggest sportswear company, made an agreed pounds 295 million cash offer for Umbro
It is understood the Toon owner bought his shares at a price above the 195p offered by Nike, which has also led to speculation he may be considering a complete takeover of Umbro
Nike have agreed to keep Umbro
's headquarters in the UK and to conduct business under the Umbro
Answer on a postcard with your name, address and phone number to: Umbro
Boots Competition, The SP, PO Box 4016, One Canada Square, London E14 5BH.
The England team wore Umbro
kits from 1954 to 2012, including the 1966 World Cup winners.
'In my view, UMBRO
could do what other global brands do in 'responsible internationalisation' - embedding indigenous producers into their supply and value chain as opposed to taking their livelihoods away.
The bright yellow socks, to match the jersey, feature a blue contrast stripe and Umbro
logo on the leg, with a cotton footbed to improve comfort and breathability.
FTSE 250 sportswear retailer Sports Direct, controlled by Newcastle United owner Mike Ashley, was previously a near-30 percent shareholder in Umbro
before agreeing to back Nike's 285-million-pound bid over four years ago for the business, whose diamond logo appears on sportswear around the world.
WE Z AAR THE CHAMPIONS Aaron Patterson celebrates Holy Cross College's win in U18 Cup DELIGHT 3Gary Henderson (centre) with Michael O'Neill and Paul Leeman PAT 3 ON THE BACK Aaron Patterson receives U18 man of the match award from Umbro
's David Weir MAN 3 OF THE MATCH Umbro
's Paul Leeman presents Holy Cross College's Alex Murphy with the U16 award IT'S PLANE SAILING Holy Cross College's Aaron Patterson celebrates scoring the winning goal in extra-time of the Umbro
Sports Direct previously owned a 15% stake, but the latest acquisition of Umbro
shares will be enough for it to block the proposed acquisition by Nike.
Nike's plans for a pounds 285 million takeover of Staffordshire-based Umbro
faced uncertainty last night after it emerged that retailer Sports Direct held a 29.9 per cent stake in the sports kit firm.
shares were yesterday driven higher as investors speculated on the possible value of a takeover bid for the England kit maker.
Rival chain JJB Sports fell 2%, while Umbro
, the official maker of England kits, also slipped back 2% as worried investors digested the news.