Annual Report 1997 (1.5 MB PDF) - adidas Group
Annual Report 1997 (1.5 MB PDF) - adidas Group
Annual Report 1997 (1.5 MB PDF) - adidas Group
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50<br />
The difference between realized share price and exercise price for options exercised by board<br />
members amounted to DM 4,117,000.<br />
22. Subsequent events After the closing of the purchase of the Family Holding Company, and with the approval of the<br />
French authorities, <strong>adidas</strong> Salomon France S.A. launched in January 1998 a simplified public tender<br />
offer for any and all outstanding shares of Salomon S.A., a publicly traded company admitted to<br />
the official market of the Paris Stock Exchange. The offer price of FRF 52<strong>1.5</strong>0 in the tender offer<br />
was the same as the implied price per Salomon share paid to the shareholders of the Family<br />
Holding Company. After the closing of this tender offer in February 1998 the Company has<br />
acquired over 95% of the shares of Salomon S.A. Under French law the Company has now the<br />
right to launch a going private offer followed by a mandatory repurchase after which Salomon’s<br />
shares would be delisted.<br />
Herzogenaurach, February 11, 1998<br />
The Board of Directors of <strong>adidas</strong>-Salomon AG
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