Adidas Shares Jump on Report of Hedge Funds’ Interest in Stakes

Bloomberg – Adidas AG rose the most in more than 10 months in Frankfurt trading on a report that hedge funds including Third Point LLC may take a stake and are pushing to remove Chief Executive Officer Herbert Hainer.

The shares gained as much as 4.6 percent to 61.44 euros as Germany’s Manager Magazin reported that several large hedge funds are considering buying a stake in the world’s second-largest sporting-goods maker.

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