SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 7, 1995
NIKE, INC.
(Exact name of registrant as specified in its charter)
Oregon 1-10635 93-0584541
(State of incorporation) (Commission File (IRS Employer
Number) Identification No.)
One Bowerman Drive, Beaverton, Oregon 97005-6453
(Address of principal executive offices) (Zip Code)
(503) 671-6453
(Registrant's telephone number, including area code)
Item 5. OTHER EVENTS
The Registrant issued the following press release on February 7, 1995
BEAVERTON, OR -- February 7, 1995 -- NIKE, Inc. (NYSE: NKE)
today announced that it has obtained all required regulatory
approvals allowing NIKE to proceed with its Offer to Purchase
all of the outstanding common shares of Canstar Sports Inc.
for
Canadian $ 27.50 per share in cash.
In connection with the Offer in Canada, NIKE has received
approval for the acquisition of Canstar from the Federal
Government under the Investment Canada Act.
NIKE had previously reported that the Canadian Bureau of
Competition Policy issued an Advance Ruling Certificate to
NIKE
approving the Company's proposed acquisition of Canstar. NIKE
had also been notified that the U.S. Federal Trade Commission
has terminated its review of the acquisition under the Hart-
Scott-Rodino Antitrust Improvements Act. NIKE may now proceed
with the acquisition under U.S. antitrust laws.
NIKE's Chairman and CEO, Philip H. Knight, said, "We are
pleased
that these regulatory conditions to our offer for Canstar have
been satisfied and we expect that Canstar shareholders will
support our offer allowing us to complete the purchase."
As previously announced, NIKE commenced its tender offer,
effective January 6, 1995, to acquire all of the outstanding
common shares of Canstar at the price of Canadian $27.50 per
share. The NIKE tender offer will be open for acceptance
until
4:30 p.m. Vancouver time on February 9, 1995 unless withdrawn
or
extended. The offer is subject to NIKE acquiring at least 80
percent of all the outstanding Canstar shares and to other
customary conditions.
NIKE had previously entered into an agreement on December 14,
1994, with the principal shareholders of Canstar, including
companies owned or controlled by Canstar Chairman Icaro
Olivieri, who together own approximately 46 percent of
Canstar's
outstanding shares, to acquire those shares at the same price
of
Canadian $27.50 per share.
Canstar manufactures and distributes ice skates under the
Bauer,
Micron, Mega, Daoust and Lange brand names; in-line roller
skates and protective gear under the Bauer brand name; Cooper
and Flak hockey protective equipment; Cooper and Bauer hockey
sticks; Bauer hockey jerseys and accessories; and Tuuk, ICM
and
John Wilson skate blades. Canstar also offers a full
selection
of products for street, roller and field hockey. Canstar
Sports
Inc. is listed on The Toronto Stock Exchange and The Montreal
Exchange (HKY), and are quoted on the NASDAQ national market
(HKYIF) in the U.S.
NIKE, Inc., based in Beaverton, Oregon, is the world's leading
designer and marketer of authentic athletic footwear, apparel and
accessories for a wide variety of sports and fitness activities.
The company also markets a line of high-quality men's and women's
dress and casual shoes through its Cole Haan subsidiary based in
Yarmouth, Maine and a full range of licensed headwear through its
Sports Specialties subsidiary based in Irvine, California. Total
revenues for the trailing twelve months ended November 30, 1994,
were $4.1 billion.
SIGNATURES
Pursuant to the requirements of the Securities and
Exchange Act of 1934, the Registrant has duly caused this
report to be signed on the behalf of the undersigned thereto
duly authorized.
NIKE, Inc.
An Oregon Corporation
By: /s/ Robert S. Falcone
_______________________
February 7, 1995
Vice President, Chief
Financial Officer
