Nike Reports Relatively Strong Q2 TaylorMade CEO Sharpe Talks About His Plan Adidas Meets Expectations With Q3 Results MSG Could Double In Value With Split ScoreBig Closes $18M Series D VC Funding MSG Considers Splitting In Two Callaway Golf's Q3 Revenue Beats Projections Under Armour's Apparel & Footwear Sales Rise By 29% TPG Takes 53% Majority Stake In CAA Overseas Group Launching Bid To Buy Reebok
WOOLWORTH'S ACQUISITION OF TSA TAKES HIT ON WALL STREET
Published May 11, 1998
Woolworth Corp. "struck out on Wall Street" with its agreement to buy The Sports Authority (TSA), according to a Reuters report in the BOSTON GLOBE. Stocks of both companies "were battered" Friday as both were among the "leading percentage losers" and the most active issues on the NYSE. TSA lost 1 13/16 to finish at 15 15/16 on Friday, while Woolworth fell 1 7/16 to 20 3/4, dropping the value of the stock deal to $523M from the original $570M. Most of the attention was focused on the "negative short-term results" from the deal (BOSTON GLOBE, 5/9).