Initial takeover offers for Fortune Brands' (FO.N) golf unit are expected to be submitted today by a range of bidders, including Adidas AG (ADSGn.DE), Nike Inc (NKE.N) and private equity firms, sources familiar with the situation said on Friday. Fortune Brands said in December it would split off its golf and home products units under pressure from activist investor William Ackman. [ID:nN12173104] The golf unit is the first to receive bids, said the sources, who declined to be named because they were not authorized to speak to the media.
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