Under Armour - Nike buyout rumors sound bogus
There are many reasons why a Nike-UA deal is not going to happen. But here is the main one: Founder Kevin Plank owns 24 percent of Under Armour's shares. His brother Scott owns another 5 percent. The company is totally kicking butt. Nike is UA Enemy No. 1. Why on earth would the Planks sell out. To anybody? But especially to Nike?
Under Armour is doubling the size of its Baltimore headquarters, Jamie Smith Hopkins reports in today's paper. That does not sound like a company about to sell out to a competitor.