Adidas Unit To Buy Adams Golf For $10.80/Share

TaylorMade-adidas Golf, a subsidiary of Adidas AG ADDYY, has entered into an agreement to buy all outstanding shares of Adams Golf Inc ADGF for $10.80 per share in cash. The total value of the deal is around $70 million (EUR53 million), which represents a premium of about 71% to Adams Golf's share price prior to Jan. 4, 2012. Adidas shares closed at $38.90 on Friday, while ADGF shares closed at $9.86 on Friday.