If you didn't pay very close attention to the business news this week, you may have missed a substantial story.
Nike has filed papers that outline their plan to raise approximately $1 billion in cash....very soon.
What makes this really interesting is that Nike is already flush with cash. Their latest quarterly report shows just shy of $2 billion in cash and equivalents. If I am not mistaken, they are adding to their coffers every quarter.
So why do they need to raise their envious cash positions from $2b to $3b? Sit down for this one: rumor is the are putting together an offer to buy rival Adidas (which owns Reebok).
This is going to be fun to watch! If the Adidas rumor is just that and untrue, Nike must have something else BIG up their sleeve. Stay tuned!
-Jeff the Great