OTHER NEWS - Dec. 15, 1994

Nike to Buy Hockey Equipment Maker: The Beaverton, Ore., athletic shoe and apparel maker said it will acquire Montreal-based Canstar Sports for $395 million. Nike announced the agreement with principal shareholders, including Canstar Chairman Icaro Olivieri, to buy their 46% of the company at $19.88 a share, and it said it will make a tender offer for the remaining shares. Nike Chairman Philip Knight called the deal “a tremendous opportunity for Nike to broaden its presence into the fastest-growing team sport in the United States with a strong, profitable and well-managed company.” Canstar’s stock soared $6.125 to $19.125 a share on Nasdaq; Nike surged $2 to $68 on the New York Stock Exchange.