Germany's Adidas has been a fixture on the sporting scene ever since founder Adi Dassler invented spiked shoes for track-and-field in the 1920s. But when it comes to making sneakers for fashion and leisure, Adidas has lagged far behind Nike, the world's leading sportswear firm, especially in the U.S. Now it's racing to catch up. Last week, Adidas agreed to pay $3.8 billion to acquire rival Reebok, delivering a head-on challenge to Nike. Canton, Massachusetts-based Reebok is popular with American basketball and baseball fans, while Adidas' strength has traditionally been in Europe. Adidas chief executive...
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