Sumitomo Rubber Absorbs Dunlop Sports
The Japanese industrial giant will exchange 0.784 shares of Sumitomo stock for each share of Dunlop stock, which is now listed on the Tokyo Stock Exchange, which values Dunlop at about $375.0 million. A good chunk of that value came from the $137 million that Dunlop paid to Sports Direct late last year to acquire the Dunlop trademarks for much of the world outside of Asia that it controlled. Sumitomo, however, already controlled 42% of the company and will now consolidate all of its results into a new sports division. Dunlop ... Log in to view full article.