Nike and Canstar Sports Inc. announced yesterday that they
have entered into a Business Combination Agreement, and Nike has
commenced its tender offer, effective January 6, to acquire all
of the outstanding shares of Canstar at the Canadian share price
of $27.50 per share (Nike/Canstar).... Mechanicsville, VA -based
Fast Mart Convenience Stores will sponsor two major dates on the
'95 Richmond Int'l Raceway NASCAR calendar. "Fast Mart Pole Day"
on March 3 will determine the top 20 starters for the following
weekend's Hardee's Frisco NASCAR Busch Series and Pontiac
Excitement 400 NASCAR Winston Cup Series race. Fast Mart
SuperTruck Shootout will kick off three nights of NASCAR racing
On September 7 (NASCAR NEWS, 1/4 issue)....Walke Communications
is currently surveying major sports advertisers on their feelings
about getting their money's worth in today's sports market.
Among questions asked: If labor problems have had an effect on
their products or ability to market their products. Walke will
release their report at the Western Sports Forum in Colorado
Springs on March 15 (THE DAILY). ....Standard & Poor's Ratings
Group placed ITT Corp. commercial paper on CreditWatch with
negative implications, citing concerns about ITT's recent
restructuring moves (WALL STREET JOURNAL, 1/10)....While The
Sports Authority's stock has "taken a beating" in the last month,
many analysts say the long-term outlook is a "winner for the
nation's largest chain of sports superstores" (Ellen Neuborne,
USA TODAY, 1/10).... Astros Senior VP/Business Operations Bob
McClaren, on the general off-season reaction from sponsors: "The
comment we keep hearing is, 'We're with you. We want to do
something with you, but we're just a little concerned about when
and if this thing is going to start on time. We're a little
worried about who the players are going to be. If you can get
this labor issue resolved, we'll be there.'" As for Astros
sponsors, Coca-Cola and Randall's Markets, have yet to resign
(Neil Hohlfeld, HOUSTON CHRONICLE, 1/8).
