Reebok’s Biggest Holder to Sell Stake: Reebok...
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Reebok’s Biggest Holder to Sell Stake: Reebok International Ltd. said its major shareholder, Pentland Group PLC, plans to sell its 31.5% stake in the sneaker and sportswear company. While Canton, Mass.-based Reebok gave no reason for the move by Pentland, a British company with diversified holdings, it immediately began erecting a series of defensive measures to protect itself against takeovers. The second-biggest chunk of Reebok stock is owned by Chairman and Chief Executive Paul Fireman and his wife Phyllis, who together control 14.5%.
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