Adidas-Salomon, the German sportswear manufacturer, this morning raised €648m ($773m) from a share placement to finance the acquisition of US rival Reebok. UBS, which led the company's flotation and a subsequent secondary offering, was left out of the deal.

The company raised €8m more than expected, when 4.5 million shares were allocated in an accelerated book build at €143 per share. The sale represents 10% of the company's shares.