CEO Kevin Plank would consider selling Under Armour Inc. for the right price, but he hasn't seen it yet. Plank told fellow billionaire and the Carlyle Group LP co-founder David Rubenstein during an interview in Washington, D.C., that he would have no choice but to sell Under Armour if offered the right price because he has a fiduciary responsibility to shareholders.
Rubenstein asked Plank if he has ever received acquisition offers from Nike Inc. founder and former CEO Phil Knight or other competitors. "If anyone ever offered me an amount of money greater than what I believed I could get the company to, it wouldn't be my choice but it would be my obligation to make the right decision," Plank said. Plank is Under Armour's largest shareholder, owning nearly 69 million shares in the Baltimore sportswear maker.
