Wolverine Worldwide has joined forces with the Authentic Brands Group (ABG) to make a bid worth “slightly more than” $1 billion for the takeover of Reebok, according to The New York Post. ABG’s current assets include Sports Illustrated as well as sports brands like Airwalk, Prince Sports and Volcom. The price would be similar to the one previously indicated by The New York Times, which mentioned several other candidates. It is much lower than the $3.8 billion paid by Adidas for Reebok 15 years ago, but much of the amount has already been written off. Sources also indicate that a private equity firm, Apollo Global Management, has made a non-binding offer for Reebok. The end of June has been set as the deadline for any bids, the Post adds, indicating that Cerberus Capital Management is also interested. Other previously mentioned potential suitors are the Permira and Triton funds as well as Fila, Anta Sports and Li Ning.

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