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.
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